Korea's Labor Market Is Highly Important For Nepal: Minister Bista

Korea's Labor Market Is Highly Important For Nepal: Minister Bista

July 23, 2019, 5:19 p.m.

Minister of Labor, Employment and Social Security Gokarna Bista said that the Republic of Korea has been immensely supporting Nepal allowing Nepalis to work in Korea through government to government agreement.

Addressing a workshop on the Second Workshop on the role of the private sector in the economic development of Korea, supporting the success of Nepali returnees, minister Bista has thanked Government of Republic of Korea for providing Nepali workers in respectful job.

"Korea has been providing honorable job as well as respectable salary to Nepalese wokers. This practice also need to replicate with other countries," said minister Bista.

Minister said that almost 63000 Nepalese have already employed by Korean companies and returnees have also been contributing Nepal involving in different activities in Nepal. Minister Bista also said that Nepalese working in Korea remitted 16.4 billion rupees to Nepal in the year 2019.

Organized by Embassy of Republic of Korea in collaboration with ANKUR, an organization Koran returnees to Nepal, Minister urged Korea to help Nepal to establish technical training centers so that Nepal can also supply high skilled labor to Korean market.

Korean ambassador to Nepal Park Young-Sik said that about 35,000 Nepalese are working now in Korea under EPS program and more than 20,000 Nepalese workers have already returned to Nepal. "We all know the immense contribution that migrant workers, including from Korea, have made to the Nepali economic development," said ambassador Park Young-Sik. " Nepal's foreign exchange reserve is healthy because of remittances. Migrant workers sent remittance of $7.26 billion in FY 2017/018. That was about 25.1 percent of the nation's GDP. The healthy foreign exchange reserves obtained mainly from remittance allows Nepali people to buy foreign goods and service.

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Biswo Poudel, economist , ILO presented the paper on The role of private sector in the Economic Development of Nepal. Dean of Asian Cultural Center in Korea King Yong Kuk also presented the paper. Editor of Karobar daily Kuber Chalise also presented the paper on policy suggestion in creating employment for returnee migrate.

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