BNK Busan Bank and Samsung Fire & Marine Insurance Sign Service Agreement for 'Foreign Worker Departure Maturity Insurance Payment'

Agreement Signed at Busan Bank Headquarters on the 7th
Service Scheduled to Begin on March 7

BNK Busan Bank (President Bang Seong-bin) held a signing ceremony with Samsung Fire & Marine Insurance at its headquarters on the 7th and will start providing departure maturity insurance payment services for foreign workers at the Gimhae International Airport branch and currency exchange office from March 4.

The 'Departure Maturity Insurance for Foreign Workers' is an insurance created to guarantee severance pay for foreign workers, and according to the 'Act on Employment, etc. of Foreign Workers,' employers who hire foreign workers are required to subscribe to it.

The departure maturity insurance (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, the inconvenience that foreign workers in the Busan, Ulsan, and Gyeongnam regions had to inevitably use Incheon International Airport to receive the 'Departure Maturity Insurance (Severance Pay) for Foreign Workers' is expected to be resolved.

Busan Bank plans to actively support foreign workers in smoothly receiving their departure maturity insurance payments (severance pay) by operating a dedicated counter at the Gimhae International Airport branch and currency exchange office.

BNK Busan Bank is signing a business agreement with Samsung Fire & Marine Insurance for the 'Foreign Worker Departure Maturity Insurance Payment' service. Photo by BNK Busan Bank