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A business entity which employs one (1) or more persons should join the Mandatory Social Insurance Program such as National Health Insurance, National Pension, Employment Insurance and Industrial Accident Compensation Insurance. The insurance premiums shall be paid by the designated date (the 10th day of the following month) once a month by the portion of employer and the employees' portion withheld respectively. In general, the employer withholds the employees' portion when the salary/wage is paid.

Type of Mandatory
Social Ins.
Employer's
Portion
Employees'
Portion
Total Remark
National Pension 4.50% 4.50% 9.00% Maximum contribution : KRW189,450
( wef. July 1, 2015 )
National Health Insurance
(Long-term care Program)
3.06%
(6.55%)
3.06%
(6.55%)
6.12%
(6.55%)
Effective on or after January 1, 2016
Employment Insurance 0.90% 0.65% 1.55% Effective on or after July 1, 2014
Industrial Accident Compensation Insurance* 1.10% N/A 1.10%  
*The rate of Industrial Accident Compensation Insurance is various depending on the industries that the company operates and the size of the company