Category Archives: Korean Payroll / HR

Korea’s 4 Social Insurance Rates for 2020

Each year, the Korean Social Insurance Companies announce their insurance rates for the upcoming year. It’s been announced that Korea’s social insurance rates for 2020 will be as below. At this moment only the Workers’ Compensation Insurance rate for 2020 has not been confirmed by the government. Item 2019 2020 Note Employee Employer TOTAL RATE […]

A Guide to South Korea’s 4 Social Insurance Programs

A Guide to South Korea’s 4 Social Insurance Programs South Korea’s Social Welfare Policy & the “Safety Net” Every developed country has systems set up to make sure that people are taken care of in the event of certain challenges and time periods. European countries are famous for their strong social safety net, but Korea […]

A Guide to The Korean National Payroll Management System

What does the Korean national payroll system include?  When an employee is hired by a company, he/she will get salary payment each month and there will be deductions from their earnings. Employees need to pay income/resident taxes for their salary and the mandatory social insurance programs that employees need to be enrolled immediately upon being […]