Posted in benefits labor news termination

Retirement Pension to be mandatory for all companies in Korea in 2022

On 27 August 2014, the Korean government announced a plan to make retirement pension system mandatory for all companies. The followings are main points of…

Continue Reading Retirement Pension to be mandatory for all companies in Korea in 2022
Posted in benefits labor laws and systems termination

Mandatory Retirement Benefits for employees under Korean labor law

This post is a brief explanation of mandatory severance benefits that are required by Korean labor law. Employee Retirement Benefit Security Act stipulates mandatory severance…

Continue Reading Mandatory Retirement Benefits for employees under Korean labor law
Posted in benefits labor laws and systems

Mandatory social insurances for foreign companies in Korea (update for 2013)

This is an update for the post written in 2008. I corrected some mistakes and updated insurance premium rates.  Many foreign employers who newly start…

Continue Reading Mandatory social insurances for foreign companies in Korea (update for 2013)
Posted in benefits labor laws and systems

Korean social insurance system for expatriate employees

I already covered social insurance systems for Korean employees in my previous post. But what about social insurance for staff sent from headquarters to Korea? It…

Continue Reading Korean social insurance system for expatriate employees