GN 01741: Agreement with the Republic of Korea
BASIC (03-01)
A. Policy — Benefit programs included
The provisions of the agreement that permit people to qualify for benefits based on combined U.S. and Korean coverage credits apply to the following types of benefits:
U.S. retirement, survivors and disability benefits. The agreement does not apply to Medicare benefits or Supplemental Security Income payments.
Korean retirement, survivors and disability benefits. The agreement does not apply to Korean industrial accident benefits.
B. Policy — Taxes included
The provisions of the agreement that eliminate dual Social Security coverage and taxes apply to:
U.S. Social Security taxes (FICA and SECA) including the Medicare portion, and
Korean Social Security taxes that finance retirement, survivors and disability benefits and the industrial accident program.
C. Reference
Agreement provisions for the elimination of dual coverage and taxation,