October 21, 2021
Park Hwa-Jin
Vice Minister
Ministry of Employment and Labor of the Republic of Korea
We refer to the Memorandum of Understanding between the MINISTRY OF
EMPLOYMENT AND LABOR OF THE REPUBLIC OF KOREA ("MOEL") and the
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT ("IBRD"),
(individually a "Party" and collectively, the "Parties"), signed on October 29th, 2019 (the
"Memorandum").
In particular, we refer to Section C, D and E of the Memorandum and Sections 2, 3 and 6 of
the Appendix to the Memorandum, as follows:
L      Section C of the Memorandum refers to possible Mechanisms of Cooperation,
including:
"Explore the possibility ofstaffsecondnent or other staff exchange programs"
Based on the successful secondments already established over the initial period of the
Memorandum, the Parties agree to modify the above-mentioned provision as follows:
"Continue exploring the possibility of staff secondment or other staff exchange
programs"
I.    Section D of the Memorandum includes the Parties' Contact information. The Parties
agree to modify the contact person for the IBRD, to read as follows:
For the International Bank for Reconstruction and Development:
Michal Rutkowski
Global Director for Social Protection
Tel.: +1-202-473-5170
Email: mrutkowski@worldbank.org


II.   Section E of the Memorandum which reads as follows:
"Effectiveness & Duration. This Memorandum shall become effective as a
non-binding statement of intent upon signature by both Parties on the date
set forth below. It shall have a term of two (2) years. The Parties may agree
to terminate or extend the term of this Memorandum in writing, with
reasonable notice between them, which in the case of termination shall be
at least one (I)month. Ifthis Memorandum is terminated for any reason, the
Parties may immediately cease all activities related to this Memorandum."
Based on the positive results achieved over the initial period of two (2) years, the
Parties agree to extend the Memorandum of Understanding for a subsequent period of two
(2) years as of October 29, 2021.
IV.   The Parties agree to modify Section 2 of the Appendix to the Memorandum as
follows:
"2. Korea Occupational Safety and Health Agency (hereinafter
referred to as "KOSHA")
KOSHA is an agency that guides and educates occupational safety and
health in order to protect the lives and health of workers.
The main functions of KOSHA include the following:
*  Provide technical support and inspections on hazardous machinery and
equipment in accordance with risk assessment.
*  Offer safety and health training programs customized to various
workplaces while operating regional OSH training centers.
*  Evaluate working environments, safety management policy, safety
engineering, industrial health and hygiene, and occupational disease
prevention.
*  Provide financial support for making workplaces safe, in particular to
vulnerable workplaces and SMEs.
*  Conduct research on measures to prevent industrial accidents.
The IBRD and KOSHA may explore the following areas of cooperation:
* Self-regulatory safety system with risk assessment and diversified
promotions;
* The occupational accident prevention programs;
* Research work to prevent occupational accident and diseases."


V.     The Parties agree to modify Section 3 of the Appendix to the Memorandum as
follows:
3. Korea Polytechnics (hereinafter referred to as "KOPO")
KOPO refers to vocational colleges that offer a comprehensive range of
technical instructions and lifelong vocational training tailored to the
industries.
The main functions of KOPO include the followings:
*  Cultivate skillful workforce in technological convergence for the needs of
the industry and foster licensed technicians.
*  Support the employment of the underprivileged and provide technical
guidance for SMEs.
*  Offer lifelong vocations educations and training services for the entire
nation to improve the competency of employment.
* Offer work-study training programs and NCSs-based local industry
specialist training programs.
The IBRD and KOPO may explore the following areas of cooperation:
* Degree and non-degree curricula for public vocational training; and
* Work-study training programs tailored to the industry.
VI.    The Parties agree to modify Section 6 of the Appendix to the Memorandum as
follows:
"6. Korea Employment Agency for Persons with Disabilities
(hereinafter referred to as "KEAD")
KEAD is an organization that supports for employment opportunities and
the self-reliance of persons with disabilities.
The main functions of KEAD include the followings:
*  For persons with disabilities, provide job placement service, vocational
training, vocational competency evaluation, online vocational
psychology test, assistive device support, and work assistant service.
*  For employers, support employment subsidy, standard workplace for
PWDs, and rent or free support of employment environment
improvement cost.
*  Implement survey and research regarding disability employment
policy.
*  Promote the employment of the disabled and improve awareness of
employing the disabled by cooperating with related organizations at
home and abroad.


The IBRD and KEAD may explore the following areas of cooperation:
Employment promotion for the disabled in the labor market through
public employment service, job search assistance, and job matching
and counseling."
IN WITNESS WHEREOF, the authorized representatives of the Parties have signed this
Extension Letter to the Memorandum to be executed as of the date first hereinabove mentioned.
MINISTRY OF EMPLOYMENT AND                     INTERNATIONAL BANK FOR
LABOR,                          RECONSTRUCTION AND
THE REPUBLIC OF KOREA                             DEVELOPMENT
park YfwaJ4---                                     W"~ 06twsU
Name: Park Hwa-Jin                          Name: Michal Rutkowski
Title: Vice Minister                        Title: Global Director, SPJ (Special Designation
Signature Authority from HD VP)