Vietnam - RoK agreement on social insurance approved

Vietnam - RoK agreement on social insurance: Vietnamese Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung (front, left) and the RoK's Minister of Health and Welfare Kwon Deok-cheol sign the bilateral agreement on social insurance on December 14, 2021. (Photo: VNA)

Over the past years, the number of Vietnamese citizens working in the RoK has accounted for the majority of Vietnamese guest workers. Together with the expansion of bilateral trade and investment, the number of RoK nationals coming to work in Vietnam has also been on the rise.

The bilateral agreement on social insurance, comprising five parts with 24 articles, is said to be an urgent need to create favourable conditions for the flows of workers and protect the rights and interests related to social insurance of workers from both countries.

It aims to avoid double social insurance contributions paid by Vietnamese and RoK citizens working in each other’s countries.

The Ministry of Foreign Affairs is tasked with handling procedures related to the agreement.

Meanwhile, the Ministry of Labour, Invalids and Social Affairs is in charge of chairing and coordinating with relevant ministries and agencies to sign an administrative deal under Article 13 of the Agreement and organising the Agreement implementation after the Government’s approval.

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