Jung Jin Gong and Seoul City Recruit Companies for 'Seoul-type Connection Contribution'

[Financial News] The Small and Medium Venture Business Promotion Corporation and Seoul City announced on the 10th that they are recruiting companies to participate in the 'Seoul-type Connection Contribution' for companies hiring young and middle-aged workers.
The Seoul-type Connection Contribution is a long-term employment inducement contribution project where small and medium-sized enterprises located in Seoul hire Seoul citizens who are young (aged 19-39) or middle-aged (aged 50-64), and Jung Jin Gong, Seoul City, the company, and the worker jointly save 340,000 won monthly for 3 years.
The worker bears 100,000 won per month, and the company bears 80,000 won per month. The remaining 160,000 won is supported by Jung Jin Gong and Seoul City, each contributing 80,000 won. The total amount accumulated over 3 years is 12,240,000 won, which is paid to long-term employees along with compound interest.
The incentive system 'Seoul-type Generation Connection', introduced for the first time this year, will also be implemented. Companies that hire both young and middle-aged workers and maintain employment for more than a year can use the contribution without company burden by receiving a full refund of the contribution paid.
The Seoul-type Connection Contribution was launched on June 30th with an agreement between Jung Jin Gong and Seoul City. As part of the 'Mutual Cooperation-type Tomorrow Filling Contribution' promoted by Jung Jin Gong, it has supported 13,997 workers in cooperation with 75 local governments, large companies, and public institutions since 2015.
Kang Seok-jin, Chairman of Jung Jin Gong, said, "The Tomorrow Filling Contribution is a project that alleviates the wage gap between small and large companies and helps small business employees build assets," adding, "We will lead regional innovation growth in cooperation with various regions as well as Seoul City."

jimnn@fnnews.com Shin Ji-min Reporter