eNewsletter

Korea’s Ministry of Employment and Labor announced that the Korean government will offer increased subsidies to employers who hire new workers or ‘vulnerable’ persons. This new initiative will take effect in January 2011.

The first part of the initiative offers employers a subsidy of up to 7.2 million won (USD $6,300) per additional worker, per year. To qualify, employers must add new workers to their businesses and add work-sharing initiatives (such as shorter work weeks and the creation of shift work).

The initiative also provides for ‘vulnerable’ persons – those who have disabilities or are female heads of households. After completion of an employment support program offered by the Ministry of Employment and Labor, the vulnerable person is eligible for an ‘employment promotion subsidy’ of 6.5 million won (USD $5,600), or 8.6 million won (USD $7,500) for persons with severe disabilities. This is 20% higher than the current level of the subsidy, 5.4 million won (USD $4,700).

These initiatives are devised by the Ministry of Employment and Labor to support job creation in Korea.