South Korea – the most preferred destination for Nepali migrant workers – has made it mandatory for the aspiring Nepali jobseekers – under the Employment Permit System (EPS) labour contract – to have an account in a commercial bank.
According to the new provision of the Republic of South Korea that is effective from February 1, the aspiring Nepali migrant workers under the EPS must submit the bank account details at the EPS office in Kathmandu. The move is targeted to ensure return of the insurance smoothly. "With the new move, the returnee will get their insurance money back within two weeks," according to director of the EPS Korea Section at the Department of Labour Dilliram Banstola.
Some 21,000 Nepalis are currently working in South Korea under the EPS system that pays decently compared to other labour destinations.