Social Security Agreements - New agreement with Republic of Korea signed

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8 November 2007

A Bilateral Agreement on Social Security with the Republic of Korea was signed on 31 October 2007 and is expected to come into force in 2008. The main purpose of the Agreement is to protect the pension rights of migrant workers who move between Ireland and the Republic of Korea. It will allow social insurance contributions paid in one country to be counted towards certain benefits in the other country, including State pensions.

The Agreement also provides that Irish employees, who are posted to work for their company in the Republic of Korea for up to five years, may continue to pay insurance contributions under Ireland's social security system instead of becoming liable for contributions in the Republic of Korea. This will also apply in reverse, allowing workers from the Republic of Korea who are posted by their company to Ireland, can continue paying into their country's own national social security system.

It is estimated that there are about 200 Irish citizens employed in the Republic of Korea and 250 Koreans in employment in Ireland at present.

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Further information:
Minister Cullen Signs Bilateral Agreement on Social Security with Republic of Korea

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