In addition to the requirements for the accreditation Korean principals hiring Filipino trainees as provided for in POEA Memorandum Circular No. 37 Series of 1993, all concerned recruitment agencies shall be required to submit the following documents to POEA's Accreditation Branch:

1. Certified true copy of Company registration with the Securities and Exchange Commission (SEC) of the joint venture firm in the Philippines;

2. Certified copy of registration with the Board of Investments (BOI) of the Korean joint venture investment in the Philippines;

3. Certified copy of the Joint Venture Agreement between the Philippine and Korean companies;

4. Joint Affidavit of Undertaking executed by the Korean principal and its recruitment agency stating that immediately upon completion of the training contract, the trainees shall be employed in the joint venture firm or factory in the Philippines.

5. Memorandum of Understanding between the Philippine and Korean entities that they shall abide by the terms and conditions of the Training under the Joint Venture approved by South Korean government subject to further approval by POEA.

Above documents are strict prerequisites for the accreditation of Korean principals. No provisional accreditation shall be granted in case of non-compliance with any of the above requirements.

All joint venture documents relating to the mobilization of Filipino trainees to South Korea verified/authenticated by the Labor Attache/Philippine Embassy prior to November 1, 1994 shall be considered pipeline accounts to be processed according to the accreditation requirements spelled out in MC 37 Series of 1993.

For immediate compliance.

Adopted: 15 Oct. 1994

(SGD.) FELICISIMO O. JOSON, JR.
Administrator