Strengthening the social safety net for small business owners! Full implementation of the employment insurance premium support project

The Ministry of SMEs and Startups (Minister Oh Young-joo, hereinafter referred to as the Ministry of SMEs and Startups) announced that it will implement the ‘Small Business Employment Insurance Premium Support Project’ from January 2, 2025 (Thursday) to promote employment insurance subscription and strengthen the social safety net for small business owners.

The self-employed employment insurance system is a system that supports unemployment benefits, job training expenses, and training incentives for up to 7 months for employers with less than 50 employees who close their businesses due to reasons such as decreased sales. The Ministry of SMEs and Startups said that it will support up to 80% of employment insurance premiums for 5 years to ease the burden of employment insurance premiums on small business owners.

In addition, it was reported that small business owners who have subscribed to the self-employed employment insurance since 2025 will be eligible for a 0.1%p interest rate reduction and 3 points added to the document evaluation when applying for the small business policy fund and the Hope Return Package (re-business re-evaluation) support project.

Small business owners who want to apply for self-employed employment insurance and employment insurance premium support at the same time can do so in one stop through the Korea Workers’ Compensation and Welfare Service’s ‘Employment and Industrial Accident Insurance Total Service (https://total.comwel.or.kr)’ website. Small business owners who have already signed up for employment insurance and want to receive employment insurance premium support only can apply through the ‘Small Business 24 (https://www.sbiz24.kr)’ website.

Editor. Hong Se-yeong