The employer of a business newly established on or after the enforcement date of the Guarantee of Employees' Retirement Benefits Act as wholly amended by Act No. 10967 (excluding where merged or partitioned) shall establish a defined benefit plan or a defined contribution plan within one year of the establishment of the business after seeking the opinions of the representatives of employees.
Laws › Act on the Guarantee of Employees' Retirement Benefits › CHAPTER II ESTABLISHMENT OF RETIREMENT BENEFIT SCHEMES
Act on the Guarantee of Employees' Retirement Benefits — Article 5 (Retirement Benefit Schemes of Newly Established Businesses)
근로자퇴직급여 보장법 제5조
This English translation is based on the Korean text effective 2022-07-12. The Korean law has since been amended (current version effective 2026-09-18) — check the Korean original.
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