VN, RoK enhance cooperation in social insurance

The signing ceremony for the Memorandum of Understanding between the Republic of Korea (RoK)’s Workers’ Compensation and Welfare Service and Viet Nam Social Security for the 2020-2025 tenure has been recently held in Busan, the RoK.

Accordingly, the two agencies will discuss and cooperate in such prioritized areas as compensation regime for employees and insurance premiums; payment and management of labor accident benefits - occupational diseases and medical care, rehabilitation, welfare for workers suffering from occupational accidents; communications and IT, customer satisfaction services and service quality monitoring, operational management and control, including training for employees, training in internal audits and research into the implementation of compensation insurance regime for employees.

In the upcoming time, the two sides will head to middle and long-term training programs, improve cooperation to create sustainable growth and expand multi-lateral cooperation to connect with other international organizations.  

The social insurance agreement between Viet Nam and the RoK has been launched since December 2015 and gone through four negotiation rounds. 

Viet Nam Social Security and the Ministry of Labor, Invalids and Social Affairs and relevant ministries and agencies have participated in the negotiation process, aiming to the common goal in realizing social insurance policy at the two nations and ensuring to obey regulations and laws of each nation in line with the international rules. 

By Thuy Dung