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Korea-US social security pact to take effect in April

Written: 2001-01-24 00:00:00Updated: 0000-00-00 00:00:00

Koreans staying or dispatched to the United States will no longer be left under a disadvantaged situation in respect to their payment of social security taxes thanks to a social security pact between the two nations that will take effect this April.

The US embassy in Seoul informed the Korean government that it completed the necessary procedures for ratifying the pact on which the U.S. government initialed last March.

When implemented, Koreans dispatched to the US will be given the same status as Americans in terms of social security benefits and those who stay less than five years will be exempted from the existing social security taxes.

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