Definition
Korea's 4 mandatory social insurances for employers and employees.
Components
- **National Pension**: Retirement income. Employee 4.5% + Employer 4.5% - **Health Insurance**: Medical cost coverage. Each ~3.545% - **Employment Insurance**: Unemployment benefits. Employee 0.9% + Employer 0.9%+ - **Workers' Compensation**: Work-related injury. Employer only (industry-based 0.7–18%)
Filing timing
- Hire: by the 15th of the month after start date - Termination: by the 15th of the month after end date - Monthly payroll withholding → pay by the 10th of the following month
Practical tips
- Choose between Flex, direct EDI, or 4-insurance certified-cert method - Electronic filers get late-fee reductions - Freelancers/contractors are not covered (separate contracts)