Accordingly, the employees subject to the program will get loans at Vietnam Bank for Social Policies for working overseas following the contract of loan demand for working in the Republic of Korea under the Agreement on sending and receiving Vietnamese laborers under the Work Permit Program for oversea employees of the Republic of Korea. They can make a loan up to VND100 million (US$4,200) to perform security deposit at the Bank for Social Policies without doing loan guarantee procedures.
The Ministry of Labour - Invalids and Social Affairs, the Vietnam Bank for Social Policies will continue to perform security deposits for selected employees before January 1, 2022 upon new valid legal documents. As for cases who performed security deposit before January 1, 2022 but have illegally stayed overseas after terminating the work contract , the security deposit amount will be transferred to the state budget in the province where the employees are permanent residents before working in the Republic of Korea.
As for cases performing security deposit from January 1 of 2022, having been penalized for illegal stay in South Korea after terminating the work contract but failing to comply with the sanctioning decisions, they will be coerced to implement the decisions.
