1. The Convention on Social Security between the Republic of Korea and the Kingdom of the Netherlands, 
which was signed on July 3, 2002, will take effect on October 1, 2003, following the completion of all 
domestic procedures in both countries.

 
2. The major contents of this Convention are as follows:

A. A person who is subject to the laws of one Contracting State and who resides within the territory of the 
other Contracting State shall receive equal treatment with nationals of the other Contracting State in the 
application of the laws of the other Contracting State regarding the eligibility for and the payment of benefits.

B. Where a person who is normally employed in the territory of one Contracting State by an employer is sent 
by that employer to work in the territory of the other Contracting State, the person shall remain subject to 
the laws of only the first Contracting State, provided that the period of employment in the territory of the 
other Contracting State is not expected to exceed 5 years.

 
3. Until now, the Korean workers dispatched to the Netherlands have been paying social security bills to both 
the Netherlands and Korea; however, following the conclusion of this convention, they are now obliged to 
pay social security bill to Korea only, which is expected to significantly reduce the burden on Korean 
companies overseas.

 
4. The ROK government had concluded agreements or conventions on social security with 6 countries--the 
United States, Canada and the United Kingdom, Germany, Italy and Iran.  The ROK government will actively 
pursue additional conclusion of agreements on social security with major advanced countries.

                                                                  Spokesperson of MOFAT

 
* unofficial translation