According to Yonhap News,

(SEOUL=Yonhap News) Seoul City announced March 15 that it will provide employment subsidies to Seoul-based foreign-invested companies that have created jobs.

The beneficiaries will be foreign-invested companies for whom it has been less than five years since their registration as foreign-invested companies in Seoul. Also, they should have hired at least 11 more workers in 2014 than they did the previous year, and their foreign investment should account for more than 30 percent.

The city will provide maximum support of KRW 200 million (USD 179,359) to the relevant companies for a maximum of six months, with a monthly subsidy of KRW 1 million per worker.

Seoul will support the companies in the eight industries strategically developed by the city: IT convergence, digital contents, green, business service, fashion & design, finance, tourism & convention and bio-medical.

To apply, please refer to the Seoul City website (seoul.go.kr) or contact the Investment Promotion Division (tel:02-2133-5356). Applications will be accepted March 16 - April 10.

srchae@yna.co.kr

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