Republic of Korea: Newly established an Emergency livelihood fund loan program for construction workers

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URL
http://www.moel.go.kr/english/poli/poliNewsnews_view.jsp?idx=1559
Body

Ministry of Employment and Labor (30.03.2020) Construction workers are being hit hard by the spread of Covid-19 due to delayed contracts and construction suspensions. Zero-interest loans will be provided to construction workers from mid-April to help their livelihoods, with individual loans capped at KRW 2 million.

measures summary

Newly established an Emergency livelihood fund loan program for construction workers from April to August

Measure date
Regions / Country
korea, Republic of
Topics
Unemployment
Employment of young workers
Financial crisis
Global challenges
Employment of young workers
Shocks & extreme events
Document Type
Official / Corporate

Tags

Status
Proposition_SS_Monitor_covid19
Published Measures summary
Description/integral text (Internal-not for publishing)

Construction workers] Newly established an Emergency livelihood fund loan program (from April to August)

  ↳ 87,000 workers, will be provided with individual loans capped at KRW 2 million (zero interest)

- Construction workers are being hit hard by the spread of Covid-19 due to delayed contracts and construction suspensions.

- Zero-interest loans will be provided to construction workers from mid-April to help their livelihoods, with individual loans capped at KRW 2 million.