KB Kookmin Bank announced on the 27th that it has implemented a maturity insurance payment service for foreign workers at its Incheon International Airport branch and currency exchange counters.
The "Maturity Insurance for Foreign Workers" is an insurance designed to guarantee severance pay for foreign workers. According to the "Act on Employment, etc. of Foreign Workers," employers who hire foreign workers are required to subscribe to this insurance. The maturity insurance payment (severance pay) can be received directly at the airport or remitted to the foreign worker's overseas account within 14 days after departure.
With the implementation of this service, foreign workers who apply for insurance payments can request currency exchange for the insurance money at KB Kookmin Bank's Incheon International Airport branch and the general area currency exchange counters, and receive the insurance payment in foreign currency cash at the duty-free area currency exchange counters.
A KB Kookmin Bank official stated, "We will actively support foreign workers by operating dedicated counters within the Incheon International Airport branch and currency exchange counters to allow them to conveniently apply for and receive maturity insurance payments at the airport." He added, "We will continue to develop various products and services to enhance financial convenience for foreign workers."
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