Comprehensive Guide to the 4-Major Insurances in Korea
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What Are the "4-Major" Insurances?
In South Korea, the term **"4-Major Social Insurances" (4대보험)** refers to the mandatory safety net system designed to protect citizens and workers from financial risks. Whether you are a local employee or an international resident, understanding these deductions is crucial for calculating your actual "take-home" pay.
1. National Pension (국민연금)
Designed to provide income during old age or disability. It is mandatory for most workers aged 18 to 60.
2. Health Insurance (건강보험)
Includes Long-term Care insurance. Provides affordable access to medical services nationwide.
3. Employment Insurance (고용보험)
Supports job training and provides unemployment benefits if you lose your job.
4. Workers' Compensation (산재보험)
100% paid by the employer. Covers medical costs for work-related injuries.
📅 Official 2026 Premium Rates (Employee Share)
| Insurance Type | Employee Rate | Employer Rate |
|---|---|---|
| National Pension | 4.75% | 4.75% (Total 9.5%) |
| Health Insurance | 3.595% | 3.595% (Total 7.19%) |
| Long-term Care | 13.14% (of Health) | 13.14% (of Health) |
| Employment Insurance | 0.9% | 0.9% ~ 1.75% |
ℹ️ Special Information for Foreigners (Expats)
National Pension Lump-sum Refund
Depending on your nationality, you might be eligible for a **Lump-sum Refund** when you leave Korea permanently. Ensure your country has a social security agreement with Korea.
Employment Insurance Enrollment
For many E-series visas, Employment Insurance is **optional**. However, if you choose not to enroll, you will not be eligible for unemployment benefits later.