I got a job in Korea — do foreigners have to enroll in all four major insurances?
I'm starting as a full-time employee this month and I heard national pension, health insurance, employment insurance, and industrial accident insurance all come out of my pay. I want to know whether foreigners are required to join all four, and whether I can get the money back when I eventually return home. I'm especially curious how the national pension lump-sum refund works.
1 Answer
Yes — as a full-time employee, foreigners are generally enrolled in all four: national pension, health insurance, employment insurance, and workers' compensation. Workers' comp is paid entirely by the employer, while the other three are split roughly 50/50 between you and the company, which is why they come out of your pay. For the national pension, whether you can get a lump-sum refund when you leave depends on a social security agreement between Korea and your home country — citizens of countries like the US, China, Thailand and many others can claim it back, applying to the National Pension Service with your passport and bank details around the time you depart. Some countries only allow totalization rather than a refund, so confirm your nationality's rule with the NPS at 1355.