SEOUL, Aug. 24 (Korea Bizwire) – Korea Exchange Bank said on August 22 that it made the 100th payment of the departure guarantee insurance to a foreign worker on the 21st at its Incheon International Airport office and it would continue paying the insurance money as scheduled. The recipient of the 100th insurance money was a 30-year-old Mongolian man.
He said, “I am glad that I could get the big money conveniently at the airport, which relieves me a lot as I was somehow worried I might not get it. I will buy some nice gifts for my parents and relatives at the duty free shop on my way out.”
The law on the mandatory departure guarantee insurance to be paid by the employer has been revised in July to make it easier for the returning foreign workers to take the money at the airport or have the money wired to a foreign account.
Accordingly, Korea Exchange Bank has since established a system to allow foreign guest workers to get the money from any branch office including 13 offices that are open on Sundays, in partnership with the Ministry of Employment and Labor and Samsung Fire & Marine.
For those workers who opt to take out the money from the airport, Korea Exchange Bank arranged them to do so at the bank’s Incheon and Gimhae airport offices. In addition, the workers can have the money wired to their home country accounts in Thailand, Indonesia, Mongolia, Vietnam, the Philippines, Bangladesh, Pakistan, and China.
An official with Korea Exchange Bank who is in charge of individual customer services said, “By working closely with the Ministry of Employment and Labor, Human Resources Development Service of Korea, and Samsung Fire & Marine, we will try to make sure foreign workers could get their departure guarantee insurance money conveniently while providing currency exchange services at the best rate.”
By Sean Chung (email@example.com)