The deal aims to ensure the legitimate rights and interests of the two countries’ labourers participating in social insurance, thus helping to build equal and sustainable social welfare in both nations.

The online signing of the deal on the implementation of an agreement on social insurance between the Vietnamese and Korean governments.

The bilateral cooperation agreement on social insurance was inked in Seoul, the RoK, on December 14, 2021, and came into force from January 1, 2024. The agreement is expected to facilitate the flow of workers and protect their rights and interests related to social insurance.

It aims to avoid double social insurance contributions paid by Vietnamese and Korean citizens working in each other’s country. The agreement will also facilitate information sharing between the two countries' enforcement agencies, helping to strengthen labour management in a more convenient and effective manner.

Under the Prime Minister’s decision, the VSS was assigned to directly put the agreement in place.

On December 8, 2023, Vietnamese Deputy Minister of Labour, Invalids and Social Affairs (MoLISA) Nguyen Ba Hoan and Deputy Minister for Planning and Coordination of the RoK's Ministry of Health and Welfare (MOHW) Kim Hyejin signed an administrative deal on the implementation of the bilateral agreement.

VSS Deputy General Director Dao Viet Anh said the signing of the deal with the NPS is the final step to begin the implementation of the agreement, the first of its kind between the two countries in social insurance, also the first between Vietnam and another country.

Vietnam, RoK sign deal to implement bilateral agreement on social insurance

Vietnam and the Republic of Korea (RoK) have signed an administrative deal on the implementation of a bilateral agreement on social insurance.

Over 20.8 trillion VND spent on new pensions and social insurance benefits

The Vietnam Social Security (VSS) on August 14 began the payment of pensions, social insurance benefits, and monthly allowances according to the new rates.

Beneficiaries to receive new pension and social insurance from August 14

Vietnam Social Security (VSS) announced on July 18 that it would arrange the payment of pensions, social insurance benefits and monthly allowances according to the new rates from August 14, 2023.

Occupational accident insurance fund shares difficulties with workers

(BGO) - The occupational accident and disease insurance benefits are stipulated in the Law on Occupational Safety and Health approved by the 13th National Assembly at its 10th session on June 25, 2015. Over the past time, authorities at all levels, agencies and enterprises in the province have paid attention to implementing such policies to share difficulties with employees.

Vietnam, RoK discuss administrative arrangement on social insurance

Functional agencies of Vietnam and the Republic of Korea (RoK) wish to soon agree on the contents of a draft administrative arrangement towards the timely implementation of the Bilateral Agreement on Social Insurance between the two countries.

Source: VNA