Vietnamese workers going to work in South Korea under labor contracts can access credit of up to VND100 million ($4,250) from the Vietnam Bank for Social Policies (VBSP) for their deposit, according to a recent government decision.
Under current regulations, Vietnamese guest workers heading to South Korea under the Employment Permit System (EPS) program are required to make a pre-departure deposit of VND100 million to guarantee their return to Vietnam after their labor contract expires.
Vietnam signed MoUs with South Korea in 2004 on sending and receiving Vietnamese workers under the EPS program, which is extended every two years.
More than 110,000 Vietnamese workers have been sent to South Korea under the program.
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