South Korea
[Updated 3/6/25] Mandatory employee benefits in Korea under their social security system include healthcare and maternity leave. Common employer-sponsored benefits include private healthcare, retirement, voluntary benefits, and flexible benefits.
Country Insight
Mandatory employee benefits in South Korea
Focus on healthcare
Korea’s provinces and territories manage government-sponsored healthcare. The federal budget determines the provincial healthcare funding; however, each province/ territory manages its healthcare platforms through taxes or individual premiums.
Korea’s healthcare system is the subject of much political controversy and debate. Some question the efficiencies of the current system to deliver treatments in a timely fashion and advocate adopting a private system.
Conversely, there are worries that privatization would lead to inequalities in the healthcare system, with only the wealthy being able to afford certain treatments and services.
Supplementary employee benefits
Although the South Korean government provides employees with national pensions and health care, it does not provide enough benefits. Therefore, the employees expect their company to offer additional life, disability, and medical plans. Other benefits include retirement, voluntary benefits, and flexible benefits.
Perks are not standard in the country.
This information is provided by CAPACITY, Asinta’s employee benefits consulting Partner in South Korea. If you need support with your benefits in the country, please contact Asinta, and we will put you in touch with the local experts at CAPACITY.