자녀양육비 대출 What are the conditions, interest rate, limit, and application method for the Korea Workers’ Compensation and Welfare Service’s livelihood stabilization fund child support loan?

자녀양육비 대출This applies to workers who have been working at a business for more than 3 months, special workers, or self-employed individuals who have been enrolled in industrial accident accident insurance for small and medium-sized businesses for more than 3 months. However, daily workers can apply if the number of working days is more than 45 days within 90 days prior to the application date, and special type workers can apply if the number of working days is more than 45 days within 90 days prior to the application date.
Average monthly income must be 2.96 million won or less as of 2023. However, non-regular workers can apply without being subject to income requirements.
You can take out a loan to cover all expenses incurred in raising a child under the age of 7. However, you can apply for a loan only when your child turns 7 years old.
You can apply for a child support loan of up to 10 million won, up to 5 million won per year per child. The interest rate is 1.5% per year, and the repayment method can be selected between 1-year grace period and 3-year equal principal installment repayment or 1-year grace period and 4-year equal principal installment repayment. Early repayment (no early repayment fee) is also possible.
Labor Welfare Net
Ministry of Health and Welfare Minister of Health and Welfare inspects damage to social welfare facilities and other facilities affected by Typhoon No. 6 ‘Kanun’ 2023.08.11
welfare.comwel.or.kr
(Source: Government 24 / Labor Welfare Net website data)
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