South Korea

Korea

South Korea to implement universal corporate pension system (Update)

The Korean government introduced a bill mandating all companies established in South Korea contribute to a compulsory corporate pension plan, which can include defined contribution, defined benefit and individual retirement pension plans. The proposed bill was introduced on 11 June […]

South Korea

South Korea to implement universal corporate pension system

The Korean government passed a bill mandating all companies established in South Korea contribute to a compulsory corporate pension plan, including defined contribution, defined benefit and individual retirement pension plans. The new law is expected to enter into force in […]

South Korea

South Korea implements work-life balance reforms

On 2 August 2019, the Korean government passed amendments expanding employer-paid paternity leave, partially government-funded childcare leave, and unpaid family care leave. While most of the amended Act’s provisions entered into effect on 1 October 2019, other provisions will be […]

South Korea

South Korea amends the Labor Standards Act

Amendments to the Labor Standards Act (LSA) were passed by the Korean National Assembly on 28 February 2018. The new law aims at improving work-life balance through changes to working hours, public holidays, overtime and annual leave. Some provisions of […]