Subsidies for New Employment at Incheon Investment Companies... Up to 6 Million Won per Employee

Incheon City will provide a subsidy of up to 6 million won per regular employee to expand new employment at domestic and foreign investment companies.

According to the city on July 10, foreign-invested companies located in Incheon (with a foreign ownership ratio of 30% or higher) are eligible to receive subsidies if the number of newly and regularly hired Korean nationals exceeded 20 last year.

Domestic companies that previously operated their headquarters, factories, research institutes, or training centers outside of Incheon and have since relocated to Incheon are also eligible for support if the number of newly and regularly hired Incheon citizens exceeds 20.

Incheon City Hall

The city plans to provide up to 1 million won per person for six months to these companies for each newly hired employee. However, if employment subsidies for the same purpose have already been received from the central government or other institutions, duplicate support is not permitted.

Companies wishing to apply for the subsidy can visit the Investment Promotion Division of Incheon City in person or submit their application via electronic or regular mail between July 13 and August 3.

An Incheon City official stated, “We have established the subsidy support system to promote new corporate investment, expand employment, and invigorate the local economy,” adding, “We will strengthen support for investment companies so that more businesses can benefit, for instance by improving support criteria and supplementing the system.”

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