The government plans to introduce a universal employment insurance system by 2025 as part of efforts to address strife in the labor market due to the COVID-19 pandemic.

Employment and Labor Minister Lee Jae-kap announced on Monday that from 2025, every worker will be eligible to receive employment insurance. This means even temporary workers, freelancers and the self-employed will be eligible for unemployment benefits.  

The government estimates that some 21 million people will subscribe by 2025. 

Currently, the number of people who are subscribed to employment insurance stands at less than 14 million. The government plans to raise that figure to some 17 million by 2022 through expanding the scope of those who are eligible.  

The government is aiming to introduce the insurance system as part of efforts to boost the nation’s social safety net, which is part of the Korean New Deal.