Some 70 per cent South Korea returnees running own businesses

Seventy per cent of South Korea returnee migrant workers are involved in their own business, according to a survey. 
“Some 20 per cent have returned South Korea for foreign employment, and the rest 10 per cent have been living idle,” revealed the survey conducted by Ankur Nepal, an organisation of the Korea returnees.
Korean Association of Returned Workers-Nepal (Ankur Nepal) conducted the survey among 955 Korea returnees across the country in association with the Foreign Employment Promotion Board (FEPB). “The trend of South Korea returnees engaging with self-employment is slowly increasing,” the report reads, adding that no less than 70 per cent of the South Korea returnees are involved in tourism sector, medium-size industry and farming.
In July, Ministry of Labour, Employment and Social Security (MoLESS) felicitated returnee migrants for their dedication in the agriculture, steel and garment sectors and also for being a source of inspiration for those who return from foreign jobs and want to start a business in Nepal. “Of the five awarded returnee migrants, three were South Korea returnees.”
According to the board, some 55,000 Nepali migrant workers went to South Korea but around 35,000 are currently working in South Korea and some 20,000 have returned to Nepal after completing their term in Korea.
The number of migrant workers leaving for South Korea is also going up and at the same time, the number of Korea returnees is also increasing. But chairman of Ankur Nepal, Lal Prasad Bhattarai – himself a South Korea returnee, who has had lived in South Korea for altogether 11 years – claimed that the South Korea returnees are disciplined, hard working and self employed. Bhattarai, who is now operating a tourism business in Kathmandu, also informed that Ankur Nepal was established in 2012 with a concrete goal of discouraging illegal migrant Nepali workers. The South Korean Embassy in Kathmandu is helping the organisation with regular trainings programmes. “We organise different programmes in association with the South Korean Embassy,” he said, adding that it also operates orientation and motivation classes for the migrant workers and their families. “It works for minimising the incidents of depression and suicide in Korea, too.”
Established with a motto ‘one South Korea returnee should provide employment to at least three Nepalis’, Ankur Nepal has 25,000 general members, 170 life members and a 15-member working committee at present.
South Korean envoy to Nepal Park Young-Sik, said that the Embassy organises programmes, in association with Ankur Nepal, on a regular basis to support the successful settlement of Nepalis, who returned from South Korea. “The returnee migrants should implement the skill and technology they have learned in Korea,” he said, adding that the embassy is supporting them in setting up of their businesses in Nepal.

NMB Bank signs MoU to support returnee migrant

NMB Bank has signed a tripartite agreement with National Youth Council and Returnee Migrant Nepal with the objective to promote youth entrepreneurship and to provide subsidised loan to returnee migrants in predominant sectors including agriculture, tourism, forestry, medicinal herbs, minerals, hydro and science and technology.
The three parties shall work to support in implementation of the Finance Ministry – Government of Nepal’s initiative to provide interest subsidy loan to promote entrepreneurship amongst the youth in the productive sector thereby opening avenues to generate employment, self-employment opportunities amongst the youth.
The terms of the MoU dictate that, in accordance with the Integrated Working Procedure for Subsidised Credit 2018, subsidised loan upto maximum of Rs 10 lakhs shall be availed to eligible returnee migrants in coordination of Nepal Youth Council upon recommendation of Returnee Migrant Nepal.
The bank shall also avail loans in sectors apart from the ones listed under the Subsidised Loan scheme. Additionally, the NMB Bank shall also establish an Advisory Service Desk to provide advisory services to prospective customers, support in enhancing technical skills, introduce savings and loan products specifically designed for returnee migrants.
All three signatory institutions believe that this initiative will encourage migrant workers abroad to return home and utilize the skills acquired to generate employment opportunities and support in building a prosperous Nepal.

Government honours returnee migrant workers

The government has today honoured eight returnee migrant workers, who have stayed back in the country and operating their own enterprises. They were honoured for setting an example of entrepreneurship in the country. Most of the entrepreneurs, who were honoured are involved in the agriculture sector.
According to the Labour Ministry, the returnee migrants were felicitated for their dedication in the agriculture sector. They are also a source of inspiration for those who return from foreign jobs and want to start a business in Nepal, said labour minister Gokarna Bista, on the occasion.
Bista honoured owner of Aarava Nepal Modern Agriculture Company of Lamjung Sonam Lama, who was selected as the most excellent returnee migrant entrepreneur of the year. He was awarded a cash prize of Rs 100,000.
Lama had worked for two years in the UAE – before starting his own business in Nepal – apart from working for another two years in Israel. He has invested Rs 160 million in his firm in Sundarbazzar of Lamjung.
Bista on the occasion also honoured Devi Prasad Khatri of Baglung, Hari Luintel of Khotang, Khoj Raj Katuwal of Kathmandu, Ganesh Pun Magar of Parbat, Prem Prasad Lamichhane of Bardiya, Drona Prasad Nepuane of Rupandehi and Ramdepal Tharu of Bardiya, who are all returnee migrant workers and have started their own business after returning home.
"This felicitation of the returnee migrant workers is just a small step to promote entrepreneurship among those who return from foreign employment," Bista said, adding that the government is planning to introduce other measures also to encourage returnee migrant workers to start their own business back home. "It will also discourage the outflow of Nepali youth."
The ministry has asked the returnee migrant workers to apply for the award. The ministry has also set the criterion of use of local resources, amount of investment, tax compliance, employment creation, energy consumption, feasibility and whether their goods were exportable items, for the award.