Incheon City Supports Dormitory Rent for SME Workers... 200,000 KRW per Person

[Asia Economy Reporter Park Hyesook] Incheon City announced on the 21st that it will implement a dormitory rent support project to expand new workforce for small and medium-sized enterprises (SMEs) such as manufacturing and to stabilize workers' housing.

The city plans to support rent up to 200,000 KRW per person when SMEs rent apartments, villas, one-room units, officetels, etc., and provide them as dormitories for workers.

The rent support target is workers with less than 5 years of employment, and to encourage new hires, 20% of this includes those with less than 1 year of employment.

Support is available for up to 5 people per company, and up to 7 people for excellent job-creating companies and root companies.

The city will accept applications from today until the budget is exhausted through the Incheon SME support portal 'BizOK.'

Last year, the city supported dormitory rent for 366 people from 161 SMEs, of which 122 were new hires.

An Incheon city official said, "We will improve the employment environment by supporting dormitory rent for SMEs struggling due to the prolonged COVID-19 pandemic," adding, "We expect this to help secure workforce for SMEs by encouraging long-term employment of workers."

This content was produced with the assistance of AI translation services.