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Seoul Metropolitan Government to Provide Employment Subsidy to Job-Cre…

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Writer Invest Seoul Day18-04-18 16:25 View406

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Seoul Metropolitan Government to Provide Employment Subsidy to Job-Creating Foreign Invested Companies

 


The Seoul Metropolitan Government has announced that it will provide an employment subsidy and training subsidy(up to KRW 200 million each) for up to 6 months, to foreign invested companies (FICs) that recruited more than 10 new employees during 2017. Up to KRW 1 million will be provided per new employee.

 

The city has already provided an employment subsidy of KRW 4,551 million to 54 FICs for creating 1,913 new jobs from 2005 to 2017, encouraging FICs to create high-quality jobs.

A total amount of KRW 308 million was provided to two FICs that recruited 105 new employees in 2017.

Enterprises in 8 new growth engine industries located in Seoul with a foreign investment rate of 30% or more, less than 5 years after FIC registration (if additionally invested, 5 years after the additional investment), and with more than 10 regular employees compared to in 2016, which were recruited in 2017, are eligible for application.

An employment and training subsidy of up to KRW 1 million each per month, per new employee over 10 new employees will be provided for up to 6 months.

The subsidies will be provided to FICs in 8 new growth engine industries strategically promoted by the city, which are: IT convergence industry, digital content industry, green industry, business service industry, fashion and design industry, finance, tourism and convention industry, and biomedical industry.

 

FICs wishing to apply for the employmenttraining subsidy must file and submit their application to the Investment Promotion Division of Seoul Metropolitan Government from March 7th (Mon) to May 4th (Fri) either in person, through the mail, or via e-mail (jkcouple@seoul.go.kr).

 

 

Subsidies will be granted based on the final decision of Foreign Investment Promotion Support Council. For further details, visit its websites (www.seoul.go.kr or www.investseoul.com) or contact Investment Promotion Division at 02 2133 5356.

“The city is actively promoting foreign investment, particularly in new growth engine fields, to contribute to innovative growth of Seoul,” exclaimed Kim Dae-ho, the Director of Investment Promotion for Seoul Metropolitan Government, “and we will support FICs in creating high-quality jobs through employment and training subsidies.”

 

 

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