혼례비대출If you are a newlywed couple who has been married for less than a year, you are likely to have a wedding or need marriage maintenance expenses. I would like to introduce the Korea Workers’ Compensation and Welfare Service (KWCS) that is providing a low-interest 1.5% wedding expense loan for newlyweds as a living stabilization fund loan. The application period is from January 8, 2024 to the end of the business day, so if you need it, please check the wedding expense loan information and apply right now.
Go to wedding expense loan application >
Since the wedding expense loan is managed by the Korea Workers’ Compensation and Welfare Service, employment conditions are required.
✅ Target: Workers for 3 months or more, special workers, self-employed individuals who have been enrolled in industrial accident insurance (3 months or more)
✅ Income requirement: Monthly average income of 3.15 million won (as of 2024) or less, however, the income requirement does not apply to irregular workers
Wedding expenses loans provide loans for the wedding expenses and expenses necessary for maintaining a marriage for the worker or their child. If the income requirement is met, each spouse can apply, and parents can also apply for the child’s wedding expenses. Likewise, the parents’ employment income requirement must be met for the child’s wedding expenses loan.
Wedding expenses loans can be borrowed up to 12.5 million won.
Wedding expenses loans are low-interest loan products with an annual interest rate of 1.5%. You can choose between 1-year grace period and 3-year monthly principal equal installment repayment, or 1-year grace period and 4-year monthly principal equal installment repayment. Please choose carefully as the grace period and repayment period cannot be changed after selection. Also, the wedding loan has the advantage of allowing early repayment, but there is no early repayment fee.
After applying for a wedding loan, the Korea Workers’ Compensation and Welfare Service requests supporting documents. Commonly, after submitting supporting documents such as a marriage certificate, family relationship certificate, income withholding tax receipt (previous year) or income certificate, and employment certificate, a guarantee number is issued and the living stabilization fund loan – wedding loan is processed through the Industrial Bank of Korea. When the loan amount is paid from the Industrial Bank of Korea, the Korea Workers’ Compensation and Welfare Service’s guarantee fee of 0.9% per annum is deducted in advance and paid.
There is also a marriage period requirement for the wedding loan. Please note that it must be within 1 year from the date of marriage registration.
– Those who have already received a loan up to the loan limit (credit guarantee limit)
– Those whose loan amount has been determined to be recovered according to Article 20 of the regulations (Those who received the loan amount through false or fraudulent means)
– If delinquency information, etc. is registered with the Korea Credit Information Service, credit guarantee is not possible, so loans are restricted.
Labor Welfare Net -> Service Application -> General Worker Loan Application -> Joint Certificate Login -> Click on Wedding Expenses and fill in the blanks.
Go to Wedding Expenses Loan Application >
Wedding Expenses Loan is a government-supported living stabilization fund loan system. We hope it will be helpful to those who need wedding funds, marriage maintenance costs, or children’s wedding expenses.
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