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Subsidies

Employment Subsidy and Education/Training Subsidy

Local governments may grant an employment subsidy and an education and training subsidy in
consideration of the employment scale and the impact on the development of the local economy.

Eligibility
  • Seoul Foreign Investment Attraction Project (Company that signed an MOU related to investment attraction)
  • Foreign-invested company in Seoul's new growth engine industry
  • IT · Convergence
  • Digital Content Business
  • Green Industry
  • Business
  • Services
  • Fashion · Design
  • Finance
  • Tourism Convention Business
  • Biomedical
Requirements (All need to be met)
  • Companies after the initial foreign investment or within 5 years from the date of increased investment (based on foreign direct investment)
  • Companies with a foreign investment ratio of 30% or more as of the date of application

    ※ If a Korean citizen or corporation owns stocks (equity) of a foreign company, the ratio is excluded

  • Companies that meet the employment conditions below
    • Employment Subsidies: New Growth Engine Industry with '21 full-time increase in employment exceeding 5 people compared to 20 years
      (However, the number of companies that signed MOUs with Seoul Metropolitan Government increased compared to the year 20.)
    • Education and training subsidy: Companies that newly hired in ‘21 and conducted education and training at a vocational education and training institutions in accordance with the 「Vocational Education and Training Promotion Act」

    ※ However, in the case of companies newly established in 2021, the evaluation is based on the average number of regular employees due to new employment in the fourth quarter of 2021 (October to December). Companies with over applicable 5 employees (Companies that have signed MOUs with Seoul Metropolitan Government have employment during the relevant period)

Number of regular employments
  • Basis: Standards for national financial support of local governments to attract local investment companies (Ministry of Trade, Industry and Energy Notification No. 2021-194, 2022. 1. 1.)
  • Definition: The average number of persons per year who provide work for the purpose of wages to a company at an independent workplace
  • Calculation method: Calculate the average number of persons who can be verified through employment insurance premium payment data in accordance with Article 13 of the Act on the Collection of Premiums for Employment Insurance and Industrial Accident Compensation Insurance (see Attachments 3 and 4)
Preferential conditions for deliberation
  • Startups within 7 years of establishment
  • Newly applied companies (subordinated support to companies that paid more than two times as of ‘17~’21)
  • Foreign-invested companies attracted by the Seoul Metropolitan Government (MOU for investment attraction)

※ Based on the above criteria, the decision of the support company and the amount after the resolution of the foreign investment support council

Amount
  • Up to KRW 1 million in total employment subsidy and education and training subsidy per company
  • In 2021, within KRW 1 million per person for those who hire more than 5 new hires per month, up to 6 months' worth (Company that has signed an MOU with Seoul City pays to all new hires)