2018 Korean Social Security Rates

Korean social security system consists of national pension, national health insurance, unemployment insurance and workplace injury insurance. Except for some special cases, it is mandatory to enroll for those social securities in Korea for the salaried employees. The social security contributions are subject to be withheld when salary income is paid.

For 2018, Korean social security rates are as followings:

ItemEmployeeEmployerNote
National pension4.50%4.50%Contribution range: Min 12,600KRW & Max 195,300KRW
National health insurance3.12%3.12%
Long-term care insurance7.38%7.38%Based on NHI
Employment insurance0.65%0.90%Rates vary from number of employees
Workers’ compensation insurance0.7%~3.1%Rates vary from types of business
Total8.50%8.75%

 

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