Mongolia and South Korea update social security agreement
AKIPRESS.COM – Minister of Family, Labor and Social Protection Aubakir Tleukhan is on a working visit to the Republic of Korea with a delegation of officials, Montsame reported.
He met with Deputy Head of the National Pension Service of the Republic of Korea Jeon Tae-gyu to exchange views on social protection for older adults, pension systems, long-term care, welfare services, and digital and integrated information systems.
Mongolia has concluded social security agreements with eight countries where Mongolian citizens work and reside, including South Korea.
The Mongolia-South Korea Social Security Agreement has been in force since 2007 and has played an important role in protecting the social security rights of citizens of both countries. However, the social security systems, legal frameworks, labor markets and migration patterns of the two countries have changed significantly. The sides therefore discussed updating the agreement to reflect current conditions.
The National Pension Service of the Republic of Korea fully supported the proposal to update the agreement and agreed to establish a working group and actively cooperate on the process.
The parties also agreed to renew the Memorandum of Understanding between Mongolia’s General Department of Social Insurance and the National Pension Service of the Republic of Korea and expand the scope of their cooperation.
