[Korea] Construction Workers’ Loan Support Program – From Living Expenses to Education Costs

Did you know there is a system in place to help construction workers with financial stability and emergency funding?

The Construction Workers' Mutual Aid Association provides loans to eligible construction workers for purposes such as marriage, medical expenses, housing, and education. Applications can be easily submitted online or via mobile.

Below, we will go over the eligibility criteria and application process step by step.

 

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Overview of Support

• Program Name: Construction Workers’ Livelihood Stabilization Loan
• Type of Support: Cash loan (provided as a loan from part of the mutual aid savings)
• Application Period: Year-round, anytime
• Application Agency: Branches and Centers of the Construction Workers' Mutual Aid Association

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Eligibility

Construction workers who have at least 252 days of accumulated mutual aid savings and fall under one or more of the following reasons are eligible to apply.

Eligible Reasons (Total 6)

1. Marriage expenses for self or child
2. College tuition for children
3. Hospitalization or surgery costs for self or family
4. Home purchase or lease deposit under self or spouse’s name
5. Declared bankruptcy within the last 5 years
6. Commencement of personal rehabilitation procedures or debt adjustment (e.g., workout) by the Credit Recovery Committee within the last 5 years

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Details of Support

• Up to 50% of the accumulated mutual aid savings can be loaned
• If the reason is clearly proven, approval is given after internal review by the association

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How to Apply

You can choose one of the three methods below to apply:

1. Online Application

Go to Official Application Website

1. In-person Application
   → Visit any branch or center of the Construction Workers' Mutual Aid Association
2. Mobile Application
   → Download the "Construction Workers' Mutual Aid Association" app to apply

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Required Documents

Common Documents

• Loan application form
• Copy of ID

Additional Documents by Reason
→ Required documents vary depending on the reason
Check in the "Construction Workers Unified Service - Loan Application" menu

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Contact

• Customer Service Center: ☎ 1666-1122
• Hours: Weekdays during business hours