Kathmandu. South Korea’s government is preparing to make income a criterion for workers’ working hours to be eligible for insurance.
South Korea’s Ministry of Employment and Labor has proposed to amend the law for this purpose. The ministry aims to include employees who are outside the purview of insurance by removing the existing working hours provision and setting income criteria.
The South Korean government has proposed amendments to the Employment Insurance Act and the Employment Industrial Accident Insurance Premium Collection Act. If these Acts are amended, it will be a major change for the insurance sector after 1995.
According to the current act, employees who earn a fixed income by working 60 hours a month or 15 hours a week are included in the insurance. Now the South Korean government plans to change it and bring the employees who have been left out of the ambit of insurance by standardizing the income instead of working hours.
The main objective of the amendment is to include freelancers, platform workers and short-term workers in insurance. The South Korean government believes the amendment will make it easier for integrated income workers working part-time in many places to access insurance. – Agency
