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– Subject to employment maintenance measures implemented from April to June in response to COVID-19 – 9/10 of the closure allowance for small and medium-sized businesses, and 2/3 for large-scale businesses.
The Ministry of Employment and Labor (Minister Lee Jae-gap) plans to temporarily increase the level of employment maintenance subsidies to up to 90% for all industries for three months (April to June) to help companies affected by COVID-19 actively maintain employment. .
To this end, the budget for employment maintenance subsidies will be significantly expanded to 500 billion won, and the enforcement ordinance of the Employment Insurance Act will be revised in April.
This measure was introduced after actively collecting field opinions from small business owners and small and medium-sized enterprises, who said that despite the relaxation of employment maintenance subsidy requirements and the increase in support levels, they still find it difficult to pay 25% of the shutdown allowance.
Through this measure, the level of support for companies eligible for priority support, such as small and medium-sized businesses, will increase to the same ratio (90%) as the special employment support industry.
In other words, the burden of business closure and leave allowance for maintaining employment for employers of companies eligible for priority support will be lowered from the current 25% to 10%.
Meanwhile, the increased employment maintenance support subsidy is planned to be paid from May to business owners who implemented actual employment maintenance measures (suspension and leave of absence) from April 1, 2020 to June 30, 2020 (3 months) and paid suspension and leave allowances. .
To achieve this, you must submit an employment maintenance plan one day before the implementation of the employment maintenance measures, implement actual employment maintenance measures according to the submitted employment maintenance plan, and apply for payment of employment maintenance support funds after payment of suspension and leave allowances.
The Ministry of Employment and Labor plans to quickly proceed with the necessary procedures to revise the Employment Insurance Act and change the employment insurance fund management plan so that the employment maintenance subsidy can be paid upwardly.
The budget is scheduled to be increased from the previous KRW 100.4 billion to KRW 500.4 billion (an additional increase of KRW 400 billion), taking into account the significant increase in applications for employment maintenance subsidies and the fact that the support ratio will be raised to 90% for the first time since the system was implemented.
Minister of Employment and Labor Lee Jae-gap said, “We hope that this measure will contribute to workers’ employment stability by easing the burden of labor costs on small business owners and small and medium-sized business owners suffering from COVID-19.” He added, “We will closely monitor future employment situations and actively ensure employment stability for vulnerable groups.” “While providing support, we will do our best to ensure that the employment maintenance subsidy is actively utilized in the industrial field.”
Inquiries: Employment Policy Division Nam Hyeon-ju (044-202-7223), Ko Hye-yeon (044-202-7204)
