What are the main compensation details of industrial accident insurance and employment insurance?

Industrial Accident Insurance (산재보험) and Employment Insurance (고용보험) are both social insurance programs in South Korea, but they serve distinct purposes and offer different compensation details.

Industrial Accident Insurance (산재보험)

• Purpose: To provide swift and fair compensation for workers who suffer injuries, illnesses, disabilities, or death due to work-related accidents or occupational diseases. It aims to ensure the worker's and their family's livelihood.
• Key Compensation Details:
  1. Medical Care Benefits (요양급여): Covers all medical expenses related to the work-related injury or illness, including examination, treatment, surgery, hospitalization, and medication, provided at designated industrial accident insurance medical institutions.
  2. Temporary Disability Benefits (휴업급여): Compensates for lost wages when a worker is unable to work due to a work-related injury or illness. It is typically calculated as 70% of the worker's average wage.
  3. Disability Benefits (장해급여): Provided to workers who suffer permanent disabilities as a result of a work-related accident. The amount varies based on the severity of the disability.
  4. Survivor Benefits (유족급여): Paid to the surviving family members of a worker who dies due to a work-related accident or occupational disease.
  5. Funeral Expenses (장의비): Covers the costs associated with the funeral of a deceased worker.
  6. Rehabilitation Benefits (직업재활급여): Supports vocational rehabilitation for injured workers to help them return to work.
• Key Feature: Benefits are provided regardless of the worker's fault or the employer's negligence.

Employment Insurance (고용보험)

• Purpose: To support workers in various aspects of their employment, including preventing unemployment, promoting employment, developing and enhancing workers' vocational skills, and providing unemployment benefits to support living expenses during job transitions.
• Key Compensation Details:
  1. Unemployment Benefits (실업급여): Provides financial support to eligible individuals who have lost their jobs involuntarily and are actively seeking new employment. The amount and duration depend on factors like previous wages, contribution period, and age.
  2. Employment Promotion Benefits (고용촉진장려금): Incentives for employers to hire individuals who are at risk of long-term unemployment.
  3. Vocational Skill Development Benefits (직업능력개발급여): Supports workers in acquiring new skills or enhancing existing ones through training programs.
  4. Parental Benefits (육아휴직급여, 출산전후휴가급여): Provides financial support to workers taking parental leave or leave for childbirth.
• Key Feature: Primarily focused on supporting workers during periods of unemployment or career development, and incentivizing employers for employment promotion.