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.
| 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% | 471,600 | 270,000 | Max contribution 452,700 won |
| National health insurance 건강보험 | 3.495% | 3.495% | 6.99% | 419,400 | 209,700 | |
| Long-term care insurance 장기요양보험 | 6.135% | 6.135% | 12.27% | 51,460 | 25,720 | 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 | 9.01% | 10.46% | approx. 20% | 1,738,500 | 912,900 | |
