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Social security and economic development in Korea: collected papers

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  • Social security and economic development in Korea: collected papers
  • Park, Chong Kee
  • Korea Institute for Health and Social Affairs
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Title Social security and economic development in Korea: collected papers
Similar Titles
Material Type Reports
Author(English)

Park, Chong Kee

Publisher

Seoul:Korea Institute for Health and Social Affairs

Date 2007
Series Title; No Research Monograph / 97-01
ISBN 8981871221
Pages 212
Language English
File Type Link
Subject Social Development < Social Welfare
Holding Korea Institute for Health and Social Affairs

Abstract

Enactment of the social insurance legislation by the National Assembly, there has been a rapid and steady expansion of risks covered by social insurance as well as an increase in persons
covered. The number of persons covered by various social insurance programs increased in terms of gross estimates from 1.9 million in the mid-1970s to 64.6 million in 1995. In 1973 the
Korean population was spending roughly 48 billion won for various social security programs including social insurance, public assistance and social welfare services. This amount represented slightly less than one percent of the 1973 GNP. Social security expenditures, however, increased dramatically to over 11 trillion won by 1994, accounting for 3.7 percent of GNP.
During the thirty-five years many important and far-reaching changes in the social security legislation and administrative organization have been made. These changes reflect not only the
adjustments to keep the program in line with rising levels of income and aspiration of the people and administrative experience, but especially in the broadening in the character and scope of social security. Various politico-economic, demographic and social factors including family life-styles had significant impact on the development of our social security system.