National Pension Service

Jun. 2004 : agreed on negotiating a Social Security Agreement between Korea and Mongolia
Feb. 2005 : sent a Korean proposal to Mongolia
Mar. 2005 : first round of Negotiation Meetings for the Agreement in Mongolia
Oct. 2005 : agreed on the final agreement between both countries
Mar. 2006 : Negotiation Meetings for the Administrative Arrangement of the Agreement
May. 2006 : signed the Agreement on Social Security and the Administrative Arrangement
Jun. 2006 : received written notification from Mongolia that Mongolia has complied with all requirements for entry into force of this Agreement
Nov. 2006 : gave written notification to Mongolia that Korea has complied with all requirements for entry into force of this Agreement
Jan. 2007 : held a meeting for the Implementation of the Agreement between Agencies of both countries
Mar. 2007 : Social Security Agreement between Korea and Mongolia entered into force

as regards Korea,
- (1) the National Pension Act
- (2) the Employment Insurance Act
- (3) the Act on the Collection, etc. of Premiums for Employment Insurance and Industrial Accident Compensation Insurance
- (4) regulations related to the above Acts
as regards Mongolia,
- (1) the Law on Social Insurance
- (2) the Law on Pensions and Benefits Provided by the Fund of Social Insurance
- (3) the Law on Individual Pension Insurance Contribution Accounts
- (4) the Law on Unemployment Benefit provided by the Fund of Social Insurance

This Agreement shall apply to Korean nationals or Mongolian nationals who are or who have been subject to the legislation of either Korea or Mongolia.
※ For more information, you may refer to the section Text of Agreement

① According to the territorial principle, an employee is subject to the legislation of a contracting country in which he/she is employed and a self-employed person is subject to the legislation of the contracting country in which the person works.
② A national of one contracting country is exempt from coverage under the other contracting country's legislation for less than 5 years, if he/she is covered under the legislation of his/her home country.
③ Especially, Mongolian workers working in Korea under the Korean Industrial Training System or the Employment Permit System are exempt from coverage under the Korean legislation for 60 months with the Certificate of Coverage of Mongolian legislation.
※ For more information, you may refer to the section Agreement or Guide for Exemption Application

① Since Agreement on Social Security Between Korea and Mongolia is a Contributions-only Agreement, there is no provision of Totalization of Periods of Coverage for the entitlement to benefit.
②Therefore, there is no pension benefits under the Agreement, whether the payment is granted depends on the each country's legislation respectively.
③A Korean Lump-sum refund is not paid to Mongolian nationals.
※ For more information, you may refer to the section Agreement

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