Addition of 'Childcare Expenses' to Industrial Accident Workers' Living Stability Fund Loans

Purpose of Reducing the Economic Burden on Industrial Accident Workers

The Korea Workers' Compensation and Welfare Service has decided to newly add child-rearing expense support to the living stabilization fund loans for industrial accident workers starting this year. This is to address the low birthrate issue while alleviating the economic burden on industrial accident workers with children and enhancing welfare.

The living stabilization fund loan project for industrial accident workers provides support on an annual scale of 15 billion KRW for medical expenses, wedding expenses, funeral expenses, vehicle purchase costs, housing relocation costs, employment stabilization funds, and other livelihood-related funds to industrial accident workers with a household of three earning below the median income (5,025,353 KRW per month) who meet one of the following criteria: industrial accident disability grades 1 to 9, recipients of survivor benefits or sickness compensation pensions, or those undergoing treatment for carbon disulfide (CS2) poisoning for more than five years.

With the newly established child-rearing expense support, industrial accident workers with children under 13 years old among the existing loan recipients can now receive up to 5 million KRW per child and a maximum of 10 million KRW per household. Industrial accident workers wishing to apply can receive guidance on the application process through the Korea Workers' Compensation and Welfare Service website and customer center.

Park Jong-gil, Director of the Korea Workers' Compensation and Welfare Service, stated, "Social issues related to the low birthrate continue," and added, "We expect that supporting child-rearing expenses for economically vulnerable industrial accident workers will help stabilize family livelihoods and foster a social consensus that respects the value of raising children."