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1.2 million low-income earners can receive labor subsidy next month

1.2 million low-income earners can receive labor subsidy next month

Posted May. 03, 2014 02:29,   

Updated January. 01, 1970 09:00


If a worker earning low wage applies for subsides promoting vocational activities with the National Tax Service by June 2, he or she can receive up to 2.1 million won (2,040 U.S. dollars). According to the National Tax Service on Friday, it will receive applications for the subsidy from among 1.2 million households nationwide from May 1 to June 2. The subsidy program has been designed to pay cash subsidies to workers who are working but cannot afford to make ends meet due to insufficient income.

To apply for the subsidy, the annual income of a double income family should be less than 25 million won (24,284 dollars) with spouse’s total annual income more than 3 million won or 2,910 dollars; less than 21 million won (20,400 dollars) for single income family; and less than 13 million won (12,600 dollars) for family with single member aged 60 or older. Additionally, an applicant is eligible for the subsidies only when he or she meets additional requirements, including the family’s total assets valued at less than 100 million won (97,000 dollars).

Those who are eligible can apply for the subsidy program by visiting the National Tax Office in person, applying online at www.eitc.go.kr, or calling 1544-9944.