Korea
Pension Premium Exemption for South Korean Workers in the Philippines
Seoul, South Korea – In a significant development for South Korean workers abroad, the Korea-Philippines Social Security Agreement will come into effect on April 1, 2024, offering them an exemption from local pension insurance premiums for up to eight years while working in the Philippines. This landmark agreement marks a new chapter in the labor and social security cooperation between South Korea and the Philippines, aimed at reducing the financial burden on expatriate workers and enhancing the