The Korea Small Business Agency announced on August 11 that it will provide free enrollment in a "2026 Group Accident Insurance" program for workers participating in the performance compensation mutual aid scheme.
The performance compensation mutual aid program allows small and medium-sized business owners and key personnel to jointly accumulate funds to provide performance bonuses to long-term employees. Key products include the Tomorrow Savings Mutual Aid and the Small Business Employee Preferential Savings Mutual Aid.
The group accident insurance covers: △Accidental death (10 million won) and accidental disability (up to 10 million won) △Surgery for seven types of injuries (up to 500,000 won) △Fracture diagnosis (100,000 won) △Burn diagnosis (100,000 won) △Mental health support (1 million won), among others.
The program is available to a maximum of 30,000 participants. The Korea Small Business Agency will cover the entire insurance premium, meaning there will be no out-of-pocket costs for enrollees.
The agency has established a system that allows new mutual aid enrollees to simultaneously sign up for group accident insurance during the initial application phase. Existing enrollees can apply through the Tomorrow Savings Mutual Aid website until the budget is exhausted.
Jo Han-kyu, Director of Human Resource Growth at the Korea Small Business Agency, stated, "We hope that the support for group accident insurance will serve as a strong foundation for small business workers to work with peace of mind. We will continue to contribute to reducing welfare gaps and enhancing long-term employment through various performance compensation mutual aid initiatives."
* This article has been translated by AI.
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