Kyrgyz Migrant Workers in South Korea Receive Pension Payouts

A significant social security agreement between Kyrgyzstan and South Korea is bearing fruit, with over a hundred Kyrgyz migrant workers in South Korea receiving one-time payments upon their return home. This initiative, stemming from a memorandum signed in 2015, allows citizens who have officially worked in South Korea and contributed to the national pension system to reclaim their contributions. The Social Fund of Kyrgyzstan, represented by Zhenishbek Mukambetov, head of the public relations department, confirmed that 107 individuals have already benefited from this arrangement, receiving an average of $3,800 each.

The conditions for receiving these funds are straightforward: the migrant worker must apply for the payment within five years of leaving South Korea. The principal amount, along with accrued investment income, is then transferred directly to the individual's bank account. The Social Fund's role is primarily to facilitate the collection and processing of necessary documentation, ensuring a smooth transition for these returning workers. This program is particularly relevant given the estimated 12,000 Kyrgyz citizens currently employed in South Korea, highlighting the importance of such bilateral agreements for protecting the rights and financial well-being of labor migrants.

Furthermore, this initiative is part of a broader framework of social security cooperation that Kyrgyzstan is actively pursuing. Similar agreements are in effect with member states of the Eurasian Economic Union (EAEU), including Russia, Kazakhstan, and Belarus, allowing citizens working in these countries to receive pension benefits in Kyrgyzstan. Kyrgyzstan also has a social security agreement with Turkey. As of now, 174 individuals have been granted pensions under the EAEU agreements, with the majority benefiting from the arrangement with Russia. These ongoing efforts underscore Kyrgyzstan's commitment to safeguarding its citizens working abroad and ensuring they receive the social security benefits they are entitled to, regardless of their current place of employment.