The ministry of Labor, Employment, and Social Security (MoLESS), on behalf of the Government of Nepal, and the Korea International Cooperation Agency (KOICA), on behalf of the Government of the Republic of Korea, signed the Record of Discussion (RoD) for the project “Strengthening Stage-Wise Support System for the Stable Reintegration of Korea Returnee Migrants in Nepal” on May 31, 2022.
The RoD was signed by MoLESS Joint Secretary Ramchandra Dhakal and KOICA Nepal Country Director Sunghoon Ko in the presence of MoLESS Secretary Ek Narayan Aryal. Korean government through KOICA will spend USD 8 million for the project. The project period is of 7 years (84 months) starting from 2022. The project will be implemented by KOICA and Department of Foreign Employment (DoFE)- Employment Permit System (EPS) Korea Section.
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.
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.
Currently, the trend of migrant workers returning back to Nepal is increasing significantly, along with growing interests of returnees to be established as an entrepreneur in their home land. The project in its initial phase will target Korea Returnee Migrants Workers only.
Through agreement with government bank (Agriculture Development Bank Limited), this project aims to create a fund and its management mechanism so that it could be easily accessible by the Korea Returnees. Additionally, a one stop mobile platform will be developed targeting Returnee Migrant Workers for providing comprehensive reintegration information.
Secretary Aryal expressed that the project will support the Korea Returnee Migrant Workers in meeting their requirement of information and financial access. He further expressed his gratitude to KOICA for initiating support in the sector of migrant workers in Nepal where thousands of Nepali people option to migrate to Korea annually.
Similarly, KOICA Country Director Sunghoon Ko shared the project will support in socio-economic development of Nepal and increase employment through stable reintegration of Korea Returnee Migrants.
The Government of The Republic of Korea has been supporting the Government of Nepal through KOICA in various areas of Health, Education, IT and Rural Development since 1991.