The Social Security Agreement between Argentina and South Korea entered into force on 1 February 2025.1 However, forms and the Administrative Agreement are still not in place. This is the first such agreement between the two countries.
The Agreement applies to any person who is or who has been subject to the legislation of either Contracting Party (that is, either Argentina or South Korea), and to the dependants and survivors of such a person within the meaning of the applicable legislation.
The Agreement between Argentina and South Korea prevents dual social security contributions, establishes equal treatment under the social security laws of the host country, allows for the totalization of periods, and for exportability of benefits. It also includes specific rules for posted workers, who can remain covered by their home social security system for up to 36 months.
Knowing that their income will be subject to social taxes in one country only, rather than double taxed, and that their working time and accrued social security benefits will be “totalized,” may aid potential international assignees in their decisions as to whether to take an assignment in the other country. Also, not being double taxed will mean lower assignment costs for their employers.
Under the terms of the Agreement, any person who works in the territory of one Contracting Party, with respect to that work, shall be subject only to the legislation of that Contracting Party.
The Agreement is limited to pension insurance benefits, including old-age, disability, and survivors' pensions. The Agreement does not extend to health insurance, unemployment benefits, and social assistance.
The implementation of the Agreement is overseen by the respective social security institutions in Korea (Ministry of Health and Welfare ) and Argentina (Ministry of Health and Social Development). The agreed languages for the respective forms are Korean, English, and Spanish.
Coverage under the terms of the Agreement applies as long as the expected term of the individual’s assignment to the host country does not exceed 36 months (which includes holiday leave for this calculation).
In case an extension is needed, one of up to 24 months may be granted, provided that the consent for the extension is requested before the expiration of the initial 36 months.
The same terms apply to independent workers.
Before a worker is sent from one of the Contracting Parties to the other, the worker (and his or her dependents) shall be insured by health insuance covering medical expenses, as well as work injury insurance, during their stay in the other Contracting Party.
Workers who are not covered by such insurance will be subject to the legislation of the Contracting Party where the duties or work is being carried out.
A person who, but for the Agreement, would be subject to the legislation of the two Contracting Parties with respect to employment as an officer or a member of a crew on a ship shall be subject only to the legislation of the Contracting Party where the person resides. When such circumstances do not apply, the officer or a member of a crew on a ship that flies the flag of a Contracting Party shall be subject to the legislation of that Contracting Party.
Employees who carry out duties related to cargo loading and unloading, ship repairs, and port surveillance will be subject to the legislation of the Contracting Party where the port is located.
If a person who has worked in both countries has not completed enough periods of coverage to entitle him or her to benefits in one of the countries, periods of coverage in the other country will be taken into account for the purposes of determining eligibility for benefits, so long as the periods of coverage in the two countries do not overlap.
The Agreement guarantees that benefits will be paid from one country (in the currency of that country) to a resident of the other country, even if currency controls or other measures would otherwise limit or restrict such a payment.
The Agreement is expected to enhance cross-border business and promote mobility of workers between Argentina and South Korea by eliminating double social security taxation of the same earnings and by facilitating the process of claiming benefits.
Employers and employees that have concerns or questions about eligibility, conditions, and practical steps for availing of the benefits of the Agreement may wish to reach out to their usual social security and global mobility professional or a member of the social security team with KPMG in Argentina (see the Contacts section).
1 Publicación Boletín Oficial, Ley Nº 24.080, Convenio de Seguridad Social entre la República Argentina y la República de Corea. Published online in Boletín Oficial de la República Argentina. See: https://www.boletinoficial.gov.ar/detalleAviso/primera/319999/20250123.
The information contained in this newsletter was submitted by the KPMG International member firm in Argentina.
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