COMWEL

Eligible workers

• Workers with an injury or disease acknowledged to be work-related and whose monthly average income is less than or equal to the median income of a three-person household:
• Workers entitled to IDCAs;
• Workers whose disability has been acknowledged to correspond to any of Disability Grades 1 to 9; or
• Workers acknowledged to be eligible for biz start-up program pursuant to the “Regulations on Supports for Occupational Rehabilitation”
• Low-wage workers whose medical care period is equivalent to at least 3 months (medical expenses, wedding expenses and funeral expenses)
• Workers who have received long-term medical care services for at least 5 years to treat their acknowledged carbon disulfide symptom

Types of available loan services

• Medical expenses incurred by an IIW or any of his/her family members in a direct line
• Wedding expenses for an IIW or any of his/her children
• Funeral expenses for funeral services for an IIW or any of his/her or his/her spouse’s children
• Expenses spent in purchasing vehicles that are used for an IIW’s living
• Moving expenses incurred by an IIW (if the worker has entered into a contract to lease a house on a deposit basis or rent a house with a deposit on a monthly basis, he/she can be given loan services (limited to KRW 15 million) for the said deposit.)
• Employment maintenance funds: Available to workers with disability corresponding to any of Disability Grades 1 to 9 who need funds to maintain their re-employment
  

  ※However, those under disciplinary actions corresponding to or beyond suspension from school for an indefinite period (including school drop-outs, students staying out of school on a temporary basis, submitters of false documents, etc.) or who have paid for all school fees through any other scholarship program are excluded from this coverage.

• Biz funds: Available to an IIW as beneficiary of Biz Start-up Program who is in need of biz funds to operate an establishment

Terms & conditions for loan services

• Loan limit
• Medical expenses, wedding expense, funeral expenses or employment stabilization fund: KRW 10 million
• Expenses spent in purchasing vehicles, moving expenses or biz funds: KRW 20 million
• Available based on K-COMWEL Credit Guarantee Program
• Interest rate : 2% per annum
• Loan period : Up to 5 years (3-year reimbursement in equal installments following 2-year grace period
• Worker excluded from coverage :
• Worker whose loans with at least KRW 15 million in principal are outstanding
• Worker whose delinquent reimbursements, etc in accordance with the Regulations on Credit Information Management of the Korea Federation of Banks (“KFB”) are listed on the KFB network