Descriptions

National Pension

Health Insurance

Employment

Insurance

WC/EL

Subject of Application

Employee and employer between 18 and 60 yrs old

All of the employee and employer

All of the employee

All of the employee

Exception

. Less than 1 month employee

. Less than 60hours per month of worker

. Insured of other public insurance

. Less than 1 month employee

. Less than 60hours per month of worker

. Less than 1 month employee

. Less than 60hours per month of worker

No exception

Rates

9 % of Annual Salary

5.99 % of Annual salary

Unemployment Salary: 1.3%of Annual Salary of Employee, 2.0% of employer

According to the industrial type

Long-term Care Insurance for Elderly : 6.55 % of Health Insurance

Employment safety, etc:0.25 % of annual salary ( if less than 150 employees)

How to split the premium

Each 50 % of Employee and employer

Each 50 % of Employee and employer

Each 50 % of Employee and employer

Employer

Employment safety, etc : employer

Limitation of

Monthly salary

Ceiling : KRW 3.98 mil.( 71 K change per year)

Bottom: KRW 0.25 Mil.(71 K change per year )

Ceiling : KRW 78.1 mil.

Bottom : KRW KRW 0.28 Mil

No

No

Join and Withdrawal

Within 15 day when employed the new entity.

Within 14 days after the join or withdrawal

Within 14 days after the join or withdrawal

How to settle the monthly payment

Do not settle next year based on the salary level

February each year (May for individual), the authority will re-calculate the last year premium based on the personal income tax data and then impose on the withholding of April salary. (Individual on June)

Next year, employer have to re-calculate and settle the premium based on the annual salary of last year.