What are the four social insurances required to employ workers?
Subscription to the four social insurances is an obligation
In a place of business that employs more than one full-time worker,
both the employer and workers are obligated to be insured with
the four social insurances and to pay insurance premiums at
a fixed rate on a regular basis.
Types of the four social insurances
❶health insurance, covering diseases and injuries
❷national pension, covering death and old age
❸employment insurance, covering unemployment
❹industrial accident compensation insurance, covering
occupational accidents. (Insurance premiums differ depending on income)
Subscription to the four social insurances and relevant information
The four social insurances can be subscribed at the regional offices of
the National Pension Service (national pension),
the National Health Insurance Service (health insurance),
and the Korea Workers' Compensation & Welfare Service
(employment & industrial accident compensation insurances) or on
the website of the Social Insurance Information System (4insure.or.kr).
Business operators are obligated to be insured with
national health insurance and national pension
(Sole proprietor)
Sole proprietors are obligated to be insured with national health insurance
and national pension, although insurance types such as the
workplace-insured and the individually-insured may differ according to
whether they have hired employees or not. In particular, it is necessary to
be subscribed to national health insurance, as it affects visa extension.
Business operators are obligated to be insured with
national health insurance and national pension
(Corporate)
Corporate representatives must be insured with national health insurance
and national pension in cases where they receive a salary. Even when
directors are registered as unpaid positions, they must be individually
insured with national health insurance in order to extend their visa in the future.