What are the statutory health insurance benefits in the Republic of Korea?

In the Republic of Korea, statutory health insurance is designed to reduce the financial burden associated with high medical costs due to illness or injury. During their employment with Velocity Global Korea, supported employees must be enrolled in the National Health Insurance.

• The health insurance contribution rate required from the employee is 3.545%.

These health insurance contributions are reviewed and adjusted every April, with changes reflected in payrolls starting in May.