Laos, S. Korea ink deal on financing for Lao workers overseas

Workers selling products at the Jeonju New Joongang Market in Jeonju, North Jeolla Province, South Korea. - Bloomberg

VIENTIANE (Vientiane Times/ANN): BNK Capital Lao Non-Deposit Taking Microfinance Institution Co, Ltd (BNK MFI) of the Republic of Korea and Laos’ Ministry of Labour and Social Welfare have signed a Memorandum of Understanding on cooperation in providing financial services to Lao nationals planning to work in Korea, through the provision of low interest sources of financing.

The agreement relates to the Seasonal Worker Programme for Lao nationals in Korea and was signed last Friday by the Director General of the Department of Employment of Laos’ Ministry of Labour and Social Welfare, Anousone Khamsingsavath, and Managing Director of BNK MFI, Dr Ko Hyunsik, in the presence of senior officials from the ministry and Korean nationals.