Social Security System of South Korea
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This note describes the development of South Korea's social security system over the past several decades. The system is split into three main branches: social insurance, intended to achieve universal coverage, and social services and public aid that address the needs of the poor and vulnerable. The major programs included in the system are the National Pension, National Health Insurance, Long-Term Care Insurance, Child Care, and the National Basic Livelihood Security System. The report provides an overview of the social security system in general, the basic elements of the social insurance pillar, and details on how social services and public aid programs operate in the South Korean context.