Govt to allow recruitment companies to send workers to S Korea
The Ministry of Labor, Employment, and Social Security has paved the legal way for Nepali recruitment agencies to send skilled Nepali workers to South Korea under the E-7 visa.
Until now, the government has been sending unskilled workers to South Korea under the Employment Permit System (EPS).
The ministry recently published a work procedure that permits registered manpower companies to send skilled workers to South Korea under the E-7 visa system. Such companies will also need to operate training facilities to provide language and skills training to workers. The procedure requires the companies to have their training center or lease an existing training center so that it can be used full time. Such centers should have at least two certified Korean language instructors.
Likewise, Nepali companies must sign an agreement with related Korean institutions/associations to bring demand for workers under the E-7 visa system. Such institutions must agree not to charge any fees from Nepali workers or Nepali licensed companies for these services.
If Korean employers themselves or language/skill training provider organizations want to come to Nepal to provide language and skill training, they must have their infrastructure or sign a contract with Korean language and specialized skill training centers in Nepal.
According to the procedure, Nepali workers wishing to go to South Korea for employment under the E-7 visa system must pass the Korean language test and occupational skill test conducted by an accredited institution or licensed institution recognized by the South Korean government. The licensed institution will have to provide details of Nepali workers, who have passed the language and skill test to the Department of Foreign Employment.
Likewise, the Nepali Embassy in Seoul should verify any demand for Nepali workers from South Korean companies within 15 days. The demand should clearly state wages and facilities of workers and work conditions, among other things. After the demand is verified by the embassy, it will have to be forwarded to the ministry for verification.
The work procedure states that if the Korean employers want the recruitment process to go through the government channel, the department responsible for looking at Korea will conduct the recruitment process. Likewise, it states that employers must bear costs like airfare, insurance, health examination, welfare fund contribution, social security fund contribution, and labor permit fee when sourcing workers form Nepal.
Although the ministry has brought a work procedure to allow Nepali recruitment companies to send Nepali workers to South Korea, it has not made a separate agreement with South Korea for the recruitment of workers under the E-7 visa.
Meanwhile, the Department of Foreign Employment (DoFE) has formed a three-member team under Joint Secretary Govinda Rijal to study and make necessary recommendations for implementing the work procedure.
Gold being traded at Rs 125, 200 per tola on Wednesday
The gold is being traded at Rs 125, 200 per tola in the domestic market on Wednesday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 124, 600 per tola.
Meanwhile, the silver, however, has dropped by Rs 5 and is being traded at Rs 1,520 per tola today.
Nepse plunges by 6. 24 points on Tuesday
The Nepal Stock Exchange (NEPSE) plunged by 6. 24 points to close at 2,067.29 points on Tuesday.
Similarly, the sensitive index dropped by 1. 16 points to close at 368. 39 points.
A total of 9,478,933-unit shares of 307 companies were traded for Rs 3. 63 billion.
Meanwhile, Buddha Bhumi Nepal Hydropower Company Limited (BNHC) and Sarbottam Cement Limited (SARBTM) were the top gainers today with their price surging by 10. 00 percent.
Likewise, Siddhartha Investment Growth Scheme - 2 (SIGS2) was the top loser with its price dropped by 7. 08 percent.
At the end of the day, the total market capitalization stood at Rs 3. 27 trillion.
Gold price increases by Rs 700 per tola on Tuesday
The price of gold has increased by Rs 700 per tola in the domestic market on Tuesday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 125, 200 per tola today. It was traded at Rs 124, 500 per tola on Sunday.
Similarly, tejabi gold is being traded at Rs 124, 600 per tola. It was traded at Rs 123, 900 per tola.
Meanwhile, the price of silver has increased by Rs 5 and is being traded at Rs 1,525 per tola today.
