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KMID : 1124019970130010089
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Korean Social Security Studies
1997 Volume.13 No. 1 p.89 ~ p.113
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A Study on the Problems and Development of the Work Injury Insurance
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Abstract
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Through a series of Five-Year Economic and Social Development Plan which began in 1962, Korea has transformed herself from a dispirited and poor farming country into a rapidly industrializing nation. In spite of such an economic development, however, Korea´s social development is far behind her economic growth.
Korea paid attention to the work injury insurance in the early economic development stage as other developed countries did. Thus 『The industrial Accident Compensation Insurance Law』was legislated in 1963 and it is now expanded to apply to the workplace with five or more employees except banking and insurance service sector. The work injury insurance covered 7.3 million workers (36.7% of the employed labor force) in 1994.
Beside the low coverage of the number of employees, the scope of benefits are the problem of work injury insurance. The work injury insurance´s main benefits are for the loss of income and the medical cost caused by occupational accidents. On the other hand, the investment on the prevention accident and the medical/social/employment rehabilitation is very low, even though the occupational accident pension is higher than that in other OECD countries.
This paper indicates the problems of work injury insurance and suggest how to improve the functions of it.
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