• Welcome to Korea Workers’ Compensation & Welfare Service
  • K-COMWEL contributes to the improvement of workers quality of life through optimal
    workers' compensation programs, rehabilitation supports and welfare improvements.

    • Job Training Loan Program

    • Welfare Service
    • Loan Service Programs
    • Job Training Loan Program
    Job Training Loan Program is a program to provide long-term loan services at low interest rates for vulnerable workers (e.g. irregular or unemployed workers with a former job career, etc.) so that they may engage in systematic job training on a long-term basis without worrying about earning for a living.

    Eligible workers

    • Regular employees and former unemployed workers
      • Non-regular workers who have obtained employment insurance coverage
      • Former Losses: A person who loses his employment insurance qualification
      • Exclusion: Persons who receive unemployment benefits, and persons whose income exceeds the median income of a family of four(KRW 55.36 million in 2019)
     

    Training for loan targets

    • It must be in training more than 3 weeks (21 days) and 15 days of remaining training.
      • The training courses supported by the Job Competency Development Account System, national period and strategic industry training, employer's vocational ability development training, and polytek functional history courses
      • Training process supported by the Employment Insurance Act, such as the National Human Resources Development Agreement
      • Other training carried out for the purpose of employment at public vocational training facilities installed by the head of the local autonomous governments for vocational ability development training
      • Training performed by the Construction Workers' Compensation and Welfare Service to enhance the functions of the construction workers
      • Training falling under sections 72 and 92 of the Industrial Accident Compensation Insurance Act or training falling under sections 11 and 12 of the Employment Promotion and Rehabilitation of Disabled Persons Act.
     

    Loan limits and conditions

    • Loan limit : KRW 10 million per person(monthly limit withing KRW 2 million)
    • Interest rate : 1.0% per annum
    • Reimbursement period : Possible to choose among 3-year/4-year/5-year reimbursements in equal installments following 1-year/2-year/3-year grace period, respectively(Not changeable after selecting the reimbursement period)
    • Credit guarantee method : Available based on K-COMWEL Credit Guarantee Program(extra Credit Guarantee commission 1.0% per annum