The 2024 work incentive is a system that increases motivation to work and supports real income for workers and business households who have difficulty living due to low income. The system is based on the composition of household members and their total salary.
Starting in the first half of 2024, you can apply for both child and work incentives at the same time. The maximum payments for work incentives and child incentives are 3.3 million won and 1 million won, respectively, and the gross income standard has been greatly eased from 40 million won to 70 million won, allowing more households to benefit.
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How to apply for child incentives for work incentives, conditions, and targets
How to apply for child incentives for work incentives, conditions, and targets
Payment amount
Single-income households Single-income households Double-income households
Total income base amount less than 22 million won less than 32 million won less than 38 million won
Maximum payment 1.65 million won 2.85 million won 3.3 million won
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What is a single-income household?
What is a double income household?
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Application period
Subjects: Income of workers, businesses, and religious persons
Calculation target: Annual income in 2023
Regular application period: May 1, 2024 (Wednesday) to May 31, 2024 (Friday)
Application period after the regular application deadline: June 1st to November 30th, 2024
Date of payment: Payment will be made at the end of August after examining the payment conditions of income and property
Additional application period after application period: 5% reduction in incentives is applied when applying from June 1 to December 2, 2024