The deal aims to ensure the legitimate rights andinterests of the two countries’ labourers participating in social insurance,thus helping to build equal and sustainable social welfare in bothnations.
The bilateral cooperation agreement on social insurance was inkedin Seoul, the RoK, on December 14, 2021, and came into force from January 1,2024. The agreement is expected to facilitate the flow of workers andprotect their rights and interests related to social insurance.
It aims to avoid double social insurance contributionspaid by Vietnamese and Korean citizens working in each other’s country. Theagreement will also facilitate information sharing between the two countries'enforcement agencies, helping to strengthen labour management in a moreconvenient and effective manner.
Under the Prime Minister’s decision, the VSS wasassigned to directly put the agreement in place.
On December 8, 2023, Vietnamese Deputy Minister ofLabour, Invalids and Social Affairs (MoLISA) Nguyen Ba Hoan and Deputy Ministerfor Planning and Coordination of the RoK's Ministry of Health and Welfare(MOHW) Kim Hyejin signed an administrative deal on the implementation of thebilateral agreement.
VSS Deputy General Director Dao Viet Anh said thesigning of the deal with the NPS is the final step to begin the implementation ofthe agreement, the first of its kind between the two countries in socialinsurance, also the first between Vietnam and another country./.