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As welfare policies in Europe became known and polarization problems – elderly poverty, poor children, etc. – intensified, political discourse on welfare formed in Korea. Many people insisted on strengthening welfare as the OECD ranking of the welfare budget relative to GDP was lower than that of the United States, a neoliberal country.
By 1989 South Korea had universal health coverage. [3] Other social insurance programmes include Industrial Accident Compensation Insurance (IACI) (South Korea's first social insurance program, introduced in 1964), and Employment Insurance (EI) (introduced in 1995). [3] The recent trend in South Korea is towards increased welfare spending.
The Social Service Personnel [1] (Korean: 사회복무요원, 社會服務要員) is a system of compulsory employment in South Korea. It is the country's largest type of transitional and alternative civilian service system.
In South Korea, during the military dictatorship in the 1970s and 1980s, the government pursued a "social purification" program that forced thousands of people off the streets into welfare centers. [1] [2] A catalyst that intensified this, was the 1986 Asian Games and the 1988 Seoul Olympics.
South Korea introduced its Basic Old-Age Pension in 2008 as part of its pension system.According to the Ministry of Health, Welfare and Family Affairs, the Basic Old-Age Pension is "designed to enhance welfare of the elderly by providing a monthly pension payment to the elderly in need."
On December 23, 1994, the Ministry of Health and Social Affairs (보건사회부) changed their name to Ministry of Health and Welfare. On February 29, 2008, the ministry merged the National Youth Commission, Prime Minister's Office of Korea, the Family Affairs from Ministry of Gender Equality and Family and Centre on Measures for Bipolarization and Livelihood, Ministry of Planning and Budget ...
The National Pension Service (NPS; Korean: 국민연금공단; Hanja: 國民年金公團; RR: Gukminyeongeumgongdan) is a public pension fund in South Korea.It is the third largest in the world [1] with over $800 billion in assets, and is the largest investor in South Korea.
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