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Welfare in South Korea
Welfare in South Korea forms a relatively new and small part of government spending in South Korea, having grown rapidly during the 1990s.〔〔
==1990–2007==
National health insurance was introduced in South Korea in 1977.〔 By 1989 South Korea had universal health coverage.〔 Other social insurance programmes in South Korea include the Industrial Accident Compensation Insurance (IACI, South Korea's first social insurance program dating to 1964), Employment Insurance (EI, dating to 1995).〔
The recent trend in South Korea is to increase welfare spending: between 1990 and 2007 South Korean government expenditure on welfare increased at an 11% annual rate in real terms, which was the fastest rate of increase in the Organisation for Economic Co-operation and Development (OECD) area.〔〔 Social expenditure in the years 1990–2001 rose from 4.25% to 8.7% (with a peak at 10.9% in 1998).〔 Gho, Kyeonghwan et al. 2003, ''Estimation of Social Expenditures in Korea on the Basis of the OECD guideline: 1990-2001'', cited by Yeon-Myung Kim (2006)〕〔
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