There’re 4 major social insurances in Korea for all employees to be enrolled: 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. Following rates are applicable for 2023.
| 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% | 497,700 | 270,000 | Max contribution 497,700 won |
| National health insurance 건강보험 | 3.545% | 3.545% | 7.09% | 425,400 | 212,700 | |
| Long-term care insurance 장기요양보험 | 6.405% | 6.405% | 12.81% | 54,480 | 27,240 | Based on NHI |
| Employment insurance 고용보험 | 0.90% | 1.25% | 2.15% | 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 | 9.17% | 10.46% | approx. 20% | 1,100,580 | 571,440 | |
