The Busan Metropolitan Government is operating an employment-linked support policy to help small business owners facing closure due to the economic slowdown get back on their feet.
Busan City and the Busan Economic Promotion Agency announced Wednesday they are pursuing a "Closed Small Business Owner Employment Transition Promotion Project." The program encourages closed business owners to find employment while also providing incentives to companies that hire them.
The initiative rests on two pillars: the "Hope Double Account" and "employment incentives." Small business owners who successfully find jobs after closing their businesses receive asset-building support through the Hope Double Account. When participants save 300,000 won per month for six months, the city matches the amount, enabling them to accumulate up to 3.6 million won.
Corporate support runs in parallel. Companies that hire closed small business owners receive employment incentives of up to 3.6 million won per person. With support available for up to five employees per company, businesses can receive up to 18 million won.
Eligible applicants include companies that have hired small business owners who closed their businesses in 2025 or later, as well as individuals who found employment after closure. Applications for both programs are open until May 10 through the Busan Job Information Network online portal.
The city expects the program to reduce income gaps after business closures and facilitate re-entry into the labor market. "We will actively support small business owners struggling after closure to rebuild their lives through stable employment," said Kim Bong-chul, Director General of the Digital Economy Office.