Vietnam, RoK sign agreement on social insurance

At the signing cerermony (Photo: Ministry of Labour, Invalids and Social Affairs of Vietnam )

Seoul (VNA) – Minister of Labour, Invalids and Social Affairs of Vietnam Dao Ngoc Dung and Minister of Health and Welfare of the Republic of Korea (RoK) Kwon Deok-cheol on December 14 inked an agreement on social insurance between the two governments.

The signing ceremony was witnessed by Chairman of the Vietnamese National Assembly Vuong Dinh Hue, who is on an official visit to the RoK.

This is Vietnam’s first comprehensive bilateral agreement on social securities. The countries began negotiation from 2015 and reached consensus on numerous major contents.

Under the pact, insurance scheme will be introduced to cover Vietnamese labourers working in the RoK and vice versa.

The agreement is hoped to bolster the Vietnam-RoK partnership, amid the increasing number of Vietnamese labourers working in the RoK and vice versa, as well as pave the way for Vietnam to reach bilateral deal on social securities with the country’s other labour export markets./.