Amendment to Korea’s Industrial Accident Compensation Insurance Law

Effective July 1, 2023, the scope of application of the Korean Industrial Accident Compensation Insurance Law was extended to include, also, the protection of those employees in Korea who are not “exclusively” working for a specific employer in Korea. Prior to the amendment, some employees who worked for multiple employees were not covered by the insurance. To extend the insurance benefit for these employees, the law has eliminated the exclusiveness requirement. The law’s amendment was a reflection on online “platform operators” that provide a portal for employees and employers to execute a working relationship. Thus, some employees are no more than short-term employees working for multiple employers over time.

For an article in industrial accidents in Korea, please see: Amendments to Korea’s OSHA Act for Serious Injuries.

Korean Industrial Accident Insurance

Along with this Amendment, comes an amendment to add to the pool of employees and employers paying into the plan. The Act extends obligations to “platform operators” to report and withhold insurance premiums for employees and employers utilizing these platforms.

To schedule a call with a labor & employment attorney in Korea please: Schedule a Call with an Attorney in Korea.

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