ENGLISH

Single-Parent Family

Single-parent Families who wish to receive the welfare funds shall submit the following documents to the State or local governments via the chief of the residence (Eup, Myeon, or Dong) to reach the mayor, governor or the chief of Gun or Gu.

Single-parent families that wish to establish businesses are entitled to welfare funds with low-interest loans.

Single-parent Families who wish to receivethe welfare funds shall submit the following documents to the State or localgovernments via the chief of the residence (Eup, Myeon, or Dong) to reach the mayor, governor or the chiefof Gun or Gu.

Single-parent families that wish to establishbusinesses are entitled to welfare funds with low-interest loans.

Borrowing of Welfare Fund

- In order topromote the stabilization of livelihood and self-support of low-incomeSingle-parent Families, the following funds are granted. (Article 13-(1) of theSingle-parent Family Support Act)

· Capital forbusiness operation

· Childeducation expenses

· Medicalexpenses

· Housing fund

Eligible recipients

※Informationon microfinance (Financial Supervisory Service homepage-Corporate financesupport-microfinance)

·“Microfinance” refers to a micro-loan business that provides unsecured andunguaranteed support for self-support funds such as start-up and operationfunds for financially underprivileged groups who have difficulty usinginstitutional finance.

· To receivea loan, ① a person with a credit rating of 6~10 or lower (including non-rated,0 grade) or ② a beneficiary and a person with the next higher rank or lower, or③ must meet the requirements for applying for work incentives.

· However, ①If credit rating information and public information are listed on the KoreaCredit Information Service's credit information network, ② If similar financialsupport is received from the project execution agency or government, localgovernments, other organizations, etc. In case the court approves personalrehabilitation and personal bankruptcy ④ In the case that the manufacturingindustry (excluding less than 5 persons), finance/insurance business, orluxury-oriented business is planned to be established or is running ⑤ As abankruptcy client of bills and checks, the reason is not resolved When it isconfirmed that legal procedures such as temporary registration, (a) seizure,provisional disposition, auction proceedings, etc. are in progress on theapplicant's property ⑦ In case of low income· If it is difficult to see as alow-credit class or does not meet the purpose of microfinance support. ⑧ In case that it is difficult to be regarded as a low-incomeor low-credit group due to other social norms, or does not meet the purpose ofmicrofinance support. ⑨ In case of planning or operating a “business excludingsmall business support fund loan” announced by the Ministry of Small and MediumBusiness If applicable, or has a history of evading or concealing property inorder to avoid the performance of a debt from a tax or creditor, etc. ⑪ Foreign nationals, foreigners, and overseas residents cannotreceive loans. (However, among those registered with public information, thosewho have faithfully paid the reimbursement amount for more than 9 months amongthose under credit recovery support, those who have been exempted from theindividual rehabilitation applicants, and those who have been exempted frompersonal bankruptcy for more than 5 years are eligible to borrow)

Loan period

Within 5.5 years

Application for Funds

- Single-parentFamilies who wish to receive the welfare funds shall submit the followingdocuments to the State or local governments via the chief of the residence (Eup, Myeon, or Dong) to reach themayor, governor or the chief of Gun or Gu.(Article 13-(2) of the Single-parent Family Support Act; Article16-(1) of theEnforcement Decree of the Single-parent Family Support Act; Article 8 of theEnforcement Regulations of the Single-parent Family Support Act)

Classification		Documents to submit
Common documents		Application form for welfare fund
Additional documents	Capital for business operation	Business plan
	Child education expenses	Certificate of registration
	Medical expenses	Medical certificate
	Housing fund	Copy of sales or lease contract

- The mayor andthe chief of Gun or Gu areobliged to notify the decision of lending welfare funds to the applicantswithout delay and report the details of lending welfare funds to relevantfinancial institutes. (Article 13-(2) of the Single-parent Family Support Act;Article16-(2) of the Enforcement Decree of the Single-parent Family SupportAct)

※ Korean WomenEntrepreneurs Association and The Beautiful Foundation are lending start-upfunds for qualified Single-parent families. Please refer to the websites of therelevant institutes for more information.