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South Korea Exempts Short-Term Foreign Workers from Long-Term Care Insurance
๐Ÿ‡ป๐Ÿ‡ณ Vietnam /Economy & Trade

South Korea Exempts Short-Term Foreign Workers from Long-Term Care Insurance

From Tuแป•i Trแบป · (7m ago) Vietnamese Positive tone

Translated from Vietnamese, summarized and contextualized by DistantNews.

TLDR

  • South Korea's government will exempt short-term foreign agricultural and fishery workers from long-term care insurance contributions.
  • The policy change aims to reduce costs and improve recruitment conditions for these workers.
  • The exemption, effective May 13, allows E-8 visa holders to opt out of the insurance program they rarely benefit from.

Tuแป•i Trแบป reports on a significant policy adjustment by the South Korean government aimed at easing the burden on seasonal foreign workers. The decision to exempt individuals on E-8 visas, primarily engaged in agriculture and fisheries, from mandatory long-term care insurance contributions is a pragmatic step towards improving their employment conditions. These workers, typically aged 19-55 and staying for a maximum of eight months, have historically paid into a system from which they are highly unlikely to benefit. Data from the National Health Insurance Service revealed that nearly 914 such workers had contributed approximately 400 million won (USD 276,800) without any claims. This exemption, effective May 13, not only addresses the financial strain on workers but also responds to demands from both employees and employers who viewed the insurance as an unnecessary cost. This move reflects South Korea's ongoing efforts to create a more flexible and supportive environment for foreign labor, crucial in combating the nation's demographic challenges of an aging population and a shrinking workforce.

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Originally published by Tuแป•i Trแบป in Vietnamese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.