There’re 4 major social securities in Korea: 1) national pension, 2) national health insurance and long-term care insurance, 3) employment insurance and 4) workers’ compensation insurance.
Each year, some of the insurance rates are increased or adjusted. Especially, rates for national health insurance and long-term care insurance are increased every year.
During covid-19 season in 2020, all the insurance companies except national pension have exempted insurance payments temporarily.
| Item | Employee | Employer | TOTAL RATE | Expected Monthly Contribution (TTL) | Note | |
| Case 1. Monthly salary 6,000,000 won | Case 2. Monthly salary 3,000,000 won | |||||
| National pension 국민연금 | 4.50% | 4.50% | 9.00% | 452,700 | 270,000 | Max contribution 452,700 won |
| National health insurance 건강보험 | 3.43% | 3.43% | 6.86% | 411,600 | 205,800 | |
| Long-term care insurance 장기요양보험 | 5.76% | 5.76% | 11.52% | 691,200 | 345,600 | Based on NHI |
| Employment insurance 고용보험 | 0.80% | 1.25% | 2.05% | 123,000 | 61,500 | Rate depends on number of employees |
| Workers’ compensation insurance 산재보험 | 0.7%~18.6% | 0.7%~18.6% | 60,000 | 30,000 | Rate depends on type of business | |
| Total | 8.93% | 10.38% | approx. 20% | 1,738,500 | 912,900 | |
