Loan Assistance for Korea-bound OFWs

Signing of agreement
Signing of agreement

From POEA Facebook page:

The MOA seeks to implement the OFW Pre-Departure Loan (OPL) Facility to provide departing OFWs under the South Korea EPS program financial assistance, specifically in defraying the mobilization costs and in providing their family some amount of money while waiting for their remittances.

Labor and Employment Secretary Rosalinda Dimapilis-Baldoz said the DOLE-POEA-Landbank tie-up will provide accessible and affordable source of financial assistance comprising of a loan amount of P52,000 which is payable in 12 equal monthly amortization, and with fixed interest rate of 10 percent per annum.

To be qualified for the special loan package, the OFW must be at least 21 years old and enrolled in Landbank banking programs, such as Landbank Auto Save Account and Credit Life Insurance. They must also pay the processing fee, execute the OFW deed of undertaking to pay the loan; and enrol their Landbank account under the mandatory account requirement of HRD Korea in its computerized system for insurance benefits at the end of the worker’s stay in Korea.

Good news para sa mga OFW na gusto magpunta sa Korea. Nagkaroon ng kasunduan ang DOLE-POEA at Landbank para makakuha ng loan assistance ang mga pupunta ng Korea sa EPS program.

Magkano ang loan? 52,000 pesos na pwedeng bayaran sa loob ng 12 buwan o isang taon. Ito ay may interest na 10% bawat taon. Mababa pa sa 5,000 piso ang babayaran sa bawat buwan o mahigit lang sa 120,000 won.

Paano makakuha ng loan? Ang OFW ay dapat 21 years old na at merong account sa Landbank.

The cost of mobilization for selected EPS workers totals to P21,879. This includes payment for mandatory TB test (P1,028); re-medical fee (P1,200); preliminary training (P500); e-Receipt or the Overseas Employment Certificate consisting of POEA processing fee, OWWA contribution, PhilHealth premium, and Pag-IBIG contribution (P5,786); visa fee (P2,250); airfare (P11,000 but would shoot up to P16,000 on peak season); and NBI clearance (P115).

Ang gastos ng isang OFW na pupunta sa Korea ay umaabot ng 21,879 pesos at kasali na rito:
~ TB test na 1,028 pesos
~ medical fee na 1,200 pesos
~ training na 500 pesos
~ e-Receipt na 5,786 pesos
~ visa fee na 2,250 pesos
~ pamasahe sa eroplano na 11,000 pesos (o minsan ay 16,000 pesos depende sa panahon)
~ NBI clearance na 115 pesos

Syempre kailangan din ng EPS worker na magkaroon ng pocket money para masustentuhan ang sarili sa unang linggo o hangang 3 linggo ng paninirahan sa South Korea.

Sa taong ito, ang quota ng Pilipinas sa EPS workers ay 6,800 na trabahador. Ang average na naipapadala ay 4,000 katao mahigit.

The EPS has an annual average deployment of about 4,000 workers.
Currently, EPS workers receive a monthly salary equivalent to USD1,200 exclusive of overtime. In 2004, the monthly salary of EPS workers was equivalent to USD500.

Ang karaniwang sweldo ng EPS worker ay 1,200 na dolyar at hindi pa kasama rito ang overtime. Noong 2004, ang suweldo ay mahigit lamang 500 dolyar. Taon-taon ay tumataas ang minimum na sweldo dito sa South Korea, kasama na ang sweldo ng mga EPS workers.

You can read the complete memo from the POEA on their Facebook page.

4 comments

  1. gud day po maam nag wrk po ako korea nung 2002 po natpos ko po kontrata ko after 3 yrs po at ako po ay nag tnt ng 2 yrs po umuwi po ako d2 sa pinas nung 2009 dec po ask ko po sana kung pwd pa po maka balik at makapag wrk po sa kr po sumuko pa pla ako maam nun tnx po sa tugon n God Bless po

    1. Isa sa requirement ng EPS ay walang record ng violation sa immigration. SAbi ng iba, pagsubok nila uli nadi-disqualify sila dahil sa record ng pag-tnt.

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