Key Summary (TL;DR)
National Pension, Health, Employment, and Industrial Accident insurance — 2026 contribution rates, coverage, and what changes when you leave employment. Read this full guide for a clear, actionable understanding of Korea's Four Major Insurances Explained — 2026 Rates and Coverage. Take your financial knowledge to the next level.
Korea's "Four Major Insurances" — National Pension, Health Insurance, Employment Insurance, and Industrial Accident Insurance — are mandatory for almost all wage earners. In 2026, the combined employee contribution is approximately 9.7% of gross salary, with the employer matching most components.
2026 Contribution Rates
| Insurance | Employee | Employer | Total |
|---|---|---|---|
| National Pension | 4.75% | 4.75% | 9.5% |
| Health Insurance | 3.595% | 3.595% | 7.19% |
| Long-term Care (13.14% of health) | 0.472% | 0.472% | 0.945% |
| Employment Insurance | 0.9% | 0.9%+α | 1.8%+α |
| Industrial Accident | — | ~0.7% | ~0.7% |
What Each Covers
- National Pension: Retirement pension after age 65 (10-year minimum contribution). Disability pension also available.
- Health Insurance: Hospital visits, prescriptions, dental, and major surgeries. Out-of-pocket caps via the Annual Out-of-Pocket Limit System.
- Employment Insurance: Unemployment benefits for 120–270 days based on age and tenure. Also covers parental leave allowance and vocational training.
- Industrial Accident: Medical care and disability compensation for work-related injuries. Fully employer-funded.
After Leaving Employment
When you leave a job, National Pension and Employment Insurance status update automatically through NPS and the Ministry of Employment. Health Insurance, however, requires action: either become a dependent under a family member's policy or convert to "voluntary continued enrollment" within 2 months to avoid steep regional rates.
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Sources & Methodology
Based on Korean government data (NTS, NPS, NHIS, KCOMWEL) and 2026 tax law. Last updated: 5/23/2026
※ For specific tax / legal decisions, please consult official sources and a qualified tax professional.
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