Deal signed to support Skorea returnee migrants

 Kathmandu, May 31

South Korea has initiated a project to support the returnee migrant workers in taking up entrepreneurship projects in Nepal. For it, Nepal and South Korea have signed an agreement for technical cooperation worth US$8 million for the project 'Strengthening Stage-wise Support System for the Stable Reintegration of Korea Returnee Migrants in Nepal' on Tuesday.

The Ministry of Labour, Employment, and Social Security (MoLESS) of Nepal and Korea International Cooperation Agency (KOICA) signed Record of Discussion (RoD) for the project on behalf of their respective governments.

Joint Secretary of MoLESS, Ramchandra Dhakal and KOICA Nepal Country Director Sunghoon Ko signed the agreement. Korean government through KOICA will spend US$ 8 million for the project.

The project period is seven years starting from 2022. The project will be implemented by KOICA and Department of Foreign Employment (DoFE) - Employment Permit System (EPS) Korea Section, KOICA said in a statement.

"The main objective of the project is to contribute for socio-economic development of Nepal and increase employment through stable reintegration of Korea returnee migrants and enhancement of their entrepreneurship capacity," read the statement.

The project also aims to create virtuous cycle and support systems for Korea returnee migrants in Nepal for their enhanced information accessibility, and increased access to financial support. It will target Korea returnee migrant workers only.

To support the returnee migrant workers, a fund will be maintained at Agriculture Development Bank Limited. Additionally, a one-stop mobile platform will be developed targeting returnee migrant workers for providing comprehensive reintegration information.

Secretary of the MoLESS, Ek Narayan Aryal said that that the project will support the Korea returnee migrant workers in meeting their requirement of information and financial access.

Similarly, Sunghoon shared that the project will support in socio-economic development of Nepal and increase employment through stable reintegration of Korea returnee migrants. 

Published in The Rising Nepal daily on 1 June 2022.