Chungnam Province to Ease Fixed Cost Burden for Small Business Owners

Chungnam Province will accept applications for its social insurance premium support program until April 30 for local small business owners struggling with economic slowdown and high prices.

This program targets businesses already participating in the government's 'Durunuri Social Insurance Premium Support' program. It will operate by Chungnam Province providing an additional 20% of the employer's share of National Pension and Employment Insurance premiums using provincial funds. Small business owners already receiving an 80% premium reduction through the Durunuri program will effectively see their social insurance premium burden virtually eliminated with Chungnam Province's additional 20% support.

Eligibility criteria include businesses with fewer than 10 employees and an average monthly salary for employed workers below 2.7 million KRW. The support period is up to 36 months per business.

Small business owners wishing to apply can do so by visiting their local city/county office or town/neighborhood administrative welfare center in person by April 30.