Sahakyeongeum Expands Support for Socially Disadvantaged through 'Happiness Sharing Rental' Program
[Asia Economy Reporter Minji Lee] The Private School Teachers' Pension Service (Sahakyeongeum) announced that it will expand the scope of its currently implemented "Happiness Sharing Loan" starting from the 1st of next month, in order to actively participate in the government's policies for socially disadvantaged groups.
The existing Happiness Sharing Loan was available to newlywed teachers, teachers who have given birth or have multiple children, and teachers with disabilities or those supporting disabled family members. From the 1st of next month, it will be expanded to include single-parent family teachers, teachers supporting elderly parents, and teachers on parental leave or sick leave.
The Happiness Sharing Loan offers a lower interest rate compared to the existing living expense loans, allowing loans up to 30 million KRW within half of the expected retirement benefits.
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Chairman Myunghyun Joo stated, "We hope that the Happiness Sharing Loan will help improve the economic stability and quality of life of teachers who are socially disadvantaged," and added, "We will continue to discover and improve customer-tailored services to actively contribute to realizing social value as a pension service."
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