Main Contents of the Social Security Agreement Between Korea and Slovak Republic
History of the Agreement with Slovak Republic
- Feb. 2006 : The Korean draft of the Agreement sent to Slovakia
- May. 2007 : Meeting with the Minister of Labor, Social affairs, and Family of the Slovakia
- Oct. 2007 : The first working-level meeting of the Agreement in Slovakia
- Jun. 2008 : The second working-level meeting of the Agreement and Administrative Arrangement in Korea
- Feb. 2009 : The Agreement on Social Security signed in Slovakia
- Nov. 2009 : The meeting for the implementation of the Agreement held in Slovakia
- Jan. 2010 : The Administrative Arrangement of the Agreement signed in Slovakia
- Mar. 2010 : The Social Security Agreement between Korea and Slovak Republic entered into force
Applicable Legislation
| Korea | Slovak Republic |
|---|---|
| - Coverage (i) The National Pension (ii) The Employment Insurance (iii) The Industrial Accident Compensation Insurance - Benefit : the National Pension |
- Coverage and Benefit (i) The Social Security Act related to the pension benefits (old age pension, invalidity pension, widow or widower's pension and orphan pension) (ii)The Social Security Act related to the participation in the social insurance (with regard to PartⅡ only) |
Personal Scope of this Agreement
- This Agreement shall apply to any person who is or who has been subject to the social security legislation of either contracting country and to the dependents and survivors of that person.
- ※ For more information, you may refer to the section Agreement
Exemption from Dual Coverage
- ① In general, an employee is subject to the legislation of a contracting country in which he/she is employed.
- ② In general, a self-employed person is subject to the legislation of the country where he/she resides.
- ③ A detached worker is exempt from being subject to the legislation of the country which he/she is sent to for less than 5 years if he/she is covered under the legislation of his/her home country (In the case that agencies of both contracting countries agree on, an exemption period may be extended).
- ※ For more information, you may refer to the section Agreement or Guide for Exemption Application
[ Applicable legislation under the Agreement ]
| Type | Work Status | Coverage |
|---|---|---|
| Employee | You are working in Slovak Republic | |
| -for an employer in Slovakia who hired you | Slovak Republic | |
| - for an employer in Korea who sent you to work in Slovakia for less than 5 years (those periods can be extended based on mutual agreement between two countries) | Korea | |
| - for an employer in Korea who sent you to work in Slovakia for more than 5 years without extension of detached period | Slovak Republic | |
| You are working in Korea | ||
| - for an employer in Korea who hired you | Korea | |
| - for an employer in Slovakia who sent you to work in Korea for less than 5 years (those periods can be extended based on mutual agreement between two countries) | Slovak Republic | |
| - for an employer in Slovakia who sent you to work in Korea for more than 5 years without extension of detached period | Korea | |
| Self-employed | You are a self-employed person: | |
| - and engages in self-employment activities in Slovakia | Slovak Republic | |
| - and participated in self-employment activities in Korea for the first 5 years | Slovak Republic | |
| You are self-employed in Korea : | ||
| - and engages in self-employment activities in Korea | Korea | |
| - and participated in self-employment activities in Slovakia for the first 5 years | Korea |
Benefits under this Agreement
- Even though your periods of coverage in one country are not sufficient to qualify for pension benefits, you may be eligible for benefits after this Agreement has entered into force. This is possible due to totaling the coverage of both countries.
- ① Korean National Pension Benefits under the Social Security Agreement
- - If you have no less than a 12 month period of coverage under the Korean National Pension Scheme but do not have enough periods of coverage (e.g., 20 years for Full Old-age pension) to qualify for pension benefits under the Korean National Pension Scheme, you may be able to qualify for Korean National Pension benefits by totaling periods of coverage under the Korean and Slovak pension systems. However, these periods creditable under the Slovak pension system, must not coincide with those under the legislation of Korea.
- If you do not qualify for Korean National Pension benefits by totalizing periods of coverage of both contracting countries, you may be able to qualify for Korean National Pension benefits by totalizing periods of coverage accumulated under the legislation of a third state with which both contracting countries are bound by social security instruments which provide for the totalization of periods.
- Your benefit is calculated by dividing the Korean periods of coverage by the total periods of coverage and then multiplying by the benefits amount (Theoretical Benefit). The benefits amount (Theoretical Benefit) is calculated based on the total periods in both countries. - ② Slovak Pension Benefits under the Social Security Agreement
- - If you have no less than a 12 month period of coverage under the Slovak Pension Scheme but do not have enough periods of coverage to qualify for pension benefits under the Slovak pension system, you may be able to qualify for Slovak pension benefits by totalizing periods of coverage under the Korean and Slovak pension systems. However, these periods creditable under the Korean National Pension Scheme, must not coincide with those of under the legislation of Slovakia.
- If you do not qualify for Slovak pension benefits by totalizing periods of coverage of both contracting countries, you may be able to qualify for them by totalizing periods of coverage accumulated under the legislation of a third state with which both contracting countries are bound by social security instruments which provide for the totalization of periods. - ③ A national of either contracting country who resides in the other contracting country is treated equally with the national of the other contracting country in the application of the legislation of the other contracting country.
- ④ Korean lump-sum refunds are granted to Slovak nationals based on the Agreement. However, lump-sum refunds can be paid to nationals of a third state only in accordance with the reciprocity principle under the Korean National Pension Act.
- ⑤ There is no lump-sum refund under the Slovak social security system, and as such any contribution which a Korean national paid to the Slovak social security system will be granted in monthly installments not in a lump-sum.
- ※ For more information, you may refer to the section Agreement or Guide for Exemption Application
| As regards Korea, | As regards Slovak Republic, |
|---|---|
| National Pension Service (NPS) | Social Insurance Agency - (www.socpoist.sk) |
