Korea, Republic of

Korea, Republic of

Code
KR
Country type
Official
ISSA Member
On

Extension of coverage to difficult-to-cover groups

In the current context of the pension scheme in Korea, low-income employees at small businesses have a higher risk of falling into a blind spot, not covered or benefiting from the social insurance, as they are reluctant to enroll due to the financial burden the pension contributions place on both employers and employees. The Korean society recognized the need to strengthen the social safety net for the vulnerable, particularly those at the lower end of the wage scale.