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Protecting Jobs Despite the Economic Downturn: Busan Metropolitan City to Provide Up to KRW 12 Million to SMEs Maintaining Employment

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will fully launch the “2026 Busan Hope Employment Retention Support Project” to promote employment stability for workers and alleviate management burdens for small and medium-sized enterprises.

This project aims to strengthen the employment retention capacity of manufacturing SMEs and construction SMEs and mid-sized companies that are striving to maintain quality jobs in the region despite uncertain employment conditions.

Launched in 2021 and now entering its sixth year, the project has supported employment retention for approximately 26,000 workers across about 1,600 companies to date.

Under the Employment Retention Support Project, manufacturing SMEs and construction SMEs and mid-sized companies in Busan that sign an “Employment Retention Mutual Cooperation Agreement” and maintain or expand employment for one year from January 1 will receive support for the employer’s share of the four major social insurance premiums.

Participating companies will also receive additional support, including occupational safety and health consultation (consulting), recruitment service support, and connections to government support programs related to employment and industrial safety.

Following last year, the city will also implement an “Employment Retention Support for the Construction Industry” program to enhance employment stability for skilled construction workers.

This measure reflects the continuing outflow of workers from the construction sector amid the prolonged slump in the construction market.

Eligible construction SMEs and mid-sized companies in Busan with five or more regular employees will receive support of up to KRW 12 million per company for the employer’s share of the four major social insurance premiums (up to KRW 600,000 per employee per year, up to 20 employees per company).

In addition, manufacturing SMEs located in industrial complexes in Busan with five or more regular employees, or companies participating in the Ministry of SMEs and Startups’ regional specialized project “Legend 50+,” will receive support of up to KRW 6 million per company for the employer’s share of the four major social insurance premiums (up to KRW 300,000 per employee per year, up to 20 employees per company).

Companies wishing to participate in the project may apply from today (the 16th) to March 31 through the Busan Employers Federation website (www.bsefapp.co.kr).

Detailed information, including application eligibility, can be found in the recruitment announcement posted on the website.

Participating companies will be finally selected through a screening committee, and the final amount of support per employee may be adjusted depending on the scale of applications and the available budget.

Meanwhile, the city will check the employment retention status of participating companies every month and plans to provide support payments twice a year, in June and December.

Companies that fail to maintain employment or do not fulfill the Employment Retention Mutual Cooperation Agreement will lose eligibility to participate in the project, and any funds already provided will be recovered.

Mayor Park Heong-joon stated, “Amid increasingly challenging domestic and international economic conditions, I hope this project will provide meaningful assistance in ensuring employment stability for workers and easing management burdens for local SMEs that are striving to preserve quality jobs in the region.”