Republic of Korea > Unemployment benefit

Republic of Korea - Unemployment benefit - Regulation, Decree, Ordinance

Enforcement Decree of the Employment Insurance Act (Presidential Decree No. 14570). (고용보험법 시행령) -

Adoption: 1995-04-06 | Date of entry into force: 1995-04-06 | KOR-1995-R-51007

Provides comprehensive regulations under the Employment Insurance Act. Chapter II governs the relationship between the insured and the insurance. Chapter III regulates employment stabilization activities, types of enterprises which shall be preferentially supported by such activities, and subsidies for reduction in working hours, reassignment, training, job conversion training and temporary shutdown of an enterprise. Also provides for bonuses for active recruitment of the long-term unemployed or the aged. Chapter IV covers vocational training, Chapter V provides for unemployment benefit, and Chapter VI covers premiums. Chapters VII through X cover the Employment Insurance Fund, examination of insurances, and supplementary and penal provisions.

Republic of Korea - Unemployment benefit - Law, Act

Employment Insurance Act [Law No. 4644 of 27 December 1993]. (고용보험법) -

Adoption: 1993-12-27 | Date of entry into force: 1995-07-01 | KOR-1993-L-41948

Establishes employment insurance to provide an allowance and possible retraining and job placement for persons who become unemployed. Workers are automatically insured (with certain exceptions). Funds shall be raised through premiums on insured workers and employers, and shall be administered through an employment insurance fund. Sets penalties for violation of the Act.