Ministry of Employment: "Vocational Training Institutions to Expand Advance Payment of Training Fees... Support Loans for Trainees' Living Expenses"

She is receiving vocational training at the Jungnang-gu Women's Human Resources Development Center.

[Asia Economy Reporter Kim Bo-kyung] The government will extend the period and scope of advance payment for training fees to ease the burden on vocational training institutions struggling due to the novel coronavirus infection (COVID-19). In addition, repayment of 29.4 billion KRW in principal for facility and equipment loans will be deferred for six months.

On the morning of the 18th, Lim Seo-jung, Vice Minister of Employment and Labor, held an emergency video conference with representatives of vocational training institutions in Busan, Daegu, Gwangju, and Daejeon to listen to field difficulties and discuss support measures for trainees and training institutions.

Earlier, as COVID-19 showed signs of spreading nationwide, the government expanded the recommendation to suspend training, which had been limited to the Daegu and Gyeongbuk regions, to the entire country starting from the 26th of last month.

The COVID-19 related support measures for the vocational training sector discussed that day include ▲expansion of advance payment for training fees ▲deferral of principal repayment on facility and equipment loans (6 months) ▲expansion of livelihood loan support for trainees.

First, to alleviate the burden caused by training suspension, the government decided to extend the existing period and scope of advance payment for training fees. Previously, 50% of the training fee was supported during the 'training suspension period,' but the scope will be expanded to the 'remaining (scheduled) training period' instead of the suspension period.

Repayment of principal on facility and equipment loans will be deferred. For training institutions whose principal repayment is due from March 16, repayment will be deferred for six months. It is expected that 41 training institutions will benefit from support amounting to 29.4 billion KRW.

The government will broadly recognize training methods such as remote training. Even educational courses approved as in-person training will be temporarily recognized as remote training if the purpose and content of the training course are the same. Training hours, normally 8 hours per day, will be allowed up to 12 hours, and changes in teachers and instructors will be made more flexible to help training institutions achieve their training course goals set for this year.

Livelihood loan support will be expanded for trainees who could not participate in training due to COVID-19. Trainees who applied for training courses but could not participate because the start was postponed will also be supported. Trainees in areas declared as special disaster zones such as Daegu, Cheongdo, Bonghwa, and Gyeongsan can receive up to 20 million KRW if their income is below 80 million KRW.

In addition, disadvantages due to mid-course withdrawal will be waived. Even if trainees withdraw mid-course due to concerns about infectious disease, they will not face penalties such as account deductions, and if they wish, they will be allowed to retake the same training course.

The training consultation period, which used to take two weeks, will be reduced to one week so that trainees can participate immediately once the desired training course is opened.

Vice Minister Lim Seo-jung stated, "Reflecting today's discussion results, we will supplement the government's support measures and focus administrative capabilities to normalize the training market as soon as possible through these measures."

This content was produced with the assistance of AI translation services.