According to Yonhap News,

(SEOUL=Yonhap News) Seoul City announced July 27 that foreign-invested companies that have created jobs in 2014 can apply for employment and training subsidies.

The beneficiaries will be Seoul-based foreign-invested companies specializing in one of the city’s eight new growth engines, including IT convergence. They should also have hired at least 11 more workers in 2014 than they did the previous year.

The city will provide companies maximum support of KRW 200 million (USD 172,339) for a maximum of six months, with a monthly subsidy of KRW 1 million per worker.

Foreign-invested companies that have created jobs and whose employees have been trained at vocational education and training institutes, including the Korea Management Association and Korea Chamber of Commerce and Industry, will also benefit from the education and training subsidies.

To apply for a subsidy, please contact the city’s Investment Promotion Division (tel:02-2133-5358) by September 30.

Since 2005, the city has given KRW 3.64 billion to 43 foreign-invested companies for 1,564 new employees. It also provided two foreign-invested companies with KRW 110 million for 19 new workers in the first half of 2015.

zitrone@yna.co.kr

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