India and South Korea have recently signed a social security agreement that aims to benefit the workers of both countries. The agreement was signed on the 13th of July 2021, and it is expected to bring a host of benefits to the people of both countries.

The social security agreement between India and South Korea is a significant development in the relationship between the two countries. The agreement is expected to benefit thousands of Indian and Korean workers who are living and working in each other`s countries. The agreement aims to provide social security benefits to workers who are employed in either country, thereby protecting their rights and welfare.

Under the agreement, workers who are employed in India or South Korea will be exempted from paying social security contributions in their host country if they are already contributing to the social security system in their home country. This means that workers will not have to make double payments towards social security contributions, thereby reducing their financial burden.

The agreement also provides for the portability of social security benefits. This means that workers who have contributed to the social security system in one country will be able to receive their entitled social security benefits even if they move to the other country. This is a significant benefit for workers who move between the two countries for work.

The social security agreement also covers various social security benefits such as old-age pensions, disability benefits, and survivor benefits. The agreement also provides for the coordination of social security systems between the two countries, thereby ensuring that workers receive the maximum benefits possible.

The agreement is expected to have a positive impact on the economy of both countries by promoting the movement of labor between the two countries. The agreement will also improve the overall welfare of workers and their families. The agreement is expected to further strengthen the economic and strategic ties between India and South Korea.

In conclusion, the social security agreement between India and South Korea is a significant development that will benefit the workers of both countries. The agreement will provide social security benefits and protect the rights of workers who are employed in either country. The agreement is also expected to boost the economy of both countries by promoting the movement of labor between India and South Korea.