Korea’s 4 Social Insurance Rates

South Korea has four major social security schemes: 1) national pension; 2) national health insurance & long-term care insurance; 3) employment insurance; and 4) workers’ compensation insurance.

The insurance rates are increased or adjusted annually, with those shown below the latest updates from 2022.

ItemEmployeeEmployerTOTAL RATEExpected Monthly Contribution (TTL)Note
Case 1. Monthly salary 6,000,000 wonCase 2. Monthly salary 3,000,000 won
National pension  국민연금4.50%4.50%9.00%                     471,600                     270,000Max contribution 452,700 won
National health insurance  건강보험3.495%3.495%6.99%                     419,400                     209,700 
Long-term care insurance  장기요양보험6.135%6.135%12.27%                     51,460                     25,720Based on NHI
Employment insurance  고용보험0.80%1.25%2.05%                     123,000                       61,500Rate depends on number of employees
Workers’ compensation insurance  산재보험 0.7%~18.6%0.7%~18.6%                       60,000                       30,000Rate depends on type of business
Total9.01%10.46%approx. 20%                     1,738,500                         912,900 


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