Gwangyang City, Additional Recruitment of Participating Companies for Jeonnam Youth Employment Retention Incentive Program

Recruitment of Participating Companies from the 29th to September 12

Encouraging Long-term Service and Wage Gap Reduction

Gwangyang City in Jeollanam-do will additionally recruit participating companies for the ‘Jeonnam Youth Continuous Employment Incentive Support Project’ for 15 days from August 29 to September 12.

The ‘Jeonnam Youth Continuous Employment Incentive’ is a project that provides incentives to youth and companies to encourage long-term employment of young people working in small and medium-sized enterprises (SMEs) in the region and to reduce the wage gap between large corporations and SMEs.

[Photo by Gwangyang-si]

The Youth Continuous Employment Incentive can be applied for by companies located in Gwangyang City that are SMEs with 5 to fewer than 300 employees insured under employment insurance, and have youth aged 18 to 39 residing in Jeonnam who are regular employees with continuous employment (1st to 4th year).

The city plans to select participating companies through screening based on eligibility verification by related organizations such as the Ministry of Employment and Labor, Small and Medium Business Corporation, and Korea Workers’ Compensation & Welfare Service, as well as employment scale, company capability, and contribution to regional economic revitalization.

Selected companies and youth for the Jeonnam Youth Continuous Employment Incentive will receive employment incentives by year (1st year), employment retention funds (2nd year), continuous employment incentives (3rd year), and long-term employment funds (4th year). Up to 20 million KRW per person (15 million KRW for youth, 5 million KRW for companies) will be paid over four years.

Lee Hyun-joo, head of the Youth Job Division, said, “Through the Jeonnam Youth Continuous Employment Incentive, we expect to guarantee stable wages for local youth and create conditions for youth to maintain long-term employment in companies,” adding, “We hope for active participation from SMEs in the region.”

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr

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