Social security system

The social security system of Korea has three components: social insurance, public assistance, and social welfare service. The overall social security system in Korea is as follows:

Social insurance in Korea

1. 1.
   Present Condition … The nation requires citizens to subscribe to four compulsory social insurances by law. For secure income, medical treatment, rehabilitation, employment opportunity as a social safeguard against disease, disability, old age, death, and unemployment.

   • Health Insurance … Secure medical treatment and promote health
   • Pension Insurance, Unemployment Insurance … Secure income
   • Industrial Accident Compensation Insurance … Secure medical treatment and income
2. 2.
   Type of Social Insurance

   Type of Social Insurance table

   Type	Meaning & Benefit
   Health Insurance	Improve public health and promote social security by covering healthcare service cost, such as preventative treatment, diagnosis, treatment, rehabilitation, injuries, childbirth and death. Health insurance benefits have two kinds: Benefits in kind: Health care benefit, Health checkup Benefits in cash: Leasing or purchase of assistive equipment cost for the disabled, reimbursement based on the co-payment ceiling system, when a childbirth take place home or the other places rather than hospitals, the cost are given.
   National Pension	Secure the retirement benefits of Korean citizens with income security, thereby promoting national welfare in the case of retirement, disability or death Old-aged pension, Disability pension, Survivor’s pension
   Industrial Accident Compensation Insurance	Contribute to the improvement of workers’ quality of life through providing optimal workers’ compensations, rehabilitation supports and welfare services Care benefit, Temporary incapacity benefit, Disability benefit, Nursing benefit, Survivor benefit, Funeral expenses reimbursement, Injury and disease compensation pension will be provided
   Employment Insurance	Contribute to the improvement of workers’ quality of life through providing temporary income support to unemployed workers during job searching or upgrading skills Unemployment benefit, and maternity and parental benefits are provided
   Long-term care insurance	To support senior citizens who have difficulty in daily living due to geriatric diseases, or cerebrovascular disease Home-based benefits and institution-based benefits are provided