Kang Nam Labor Law Firm

1. Funeral Expenses

Year	Average Daily Wage	Funeral Expenses
	KRW	KRW

- Minimum 13,053,080 KRW ~ maximum 18,125,360 KRW in 2024
- Calculation of Funeral Expenses : 120 days’ worth of average daily wage

2. Survivors’ compensation benefit : if there is no eligible recipientsfor survivors’ compensation annuity

Year	Average Daily Wage	Survivors’ compensation benefit
	KRW	KRW

- Calculation of survivors’ compensation benefit : 1,300 days’ worth of average daily wage
- Average Daily Wage in 2024, minimum 69,760 KRW ~ maximum 226,191 KRW

3. Survivors’ compensation annuity : payment to the persons entitled to survivors’ compensation annuity

Year	Average Daily Wage	The number of persons entitled to survivors’ compensation annuity
	KRW

Basic Amount		Additional Amount		Total
ratio	amount	ratio	amount	Per year	Per month
47% of 365 days		5% of 365 days

- Calculation of survivors’ compensation annuity :
basic amount (average daily wage * 365 days * 47%) + additional amount (average daily wage * 365 * ratio by numbers of persons
entitled to survivors’ compensation annuity)
- Average Daily Wage in 2024, minimum 69,760 KRW ~ maximum 226,191 KRW

※ Ratio by numbers of persons entitled to survivors’ compensation annuity

Persons entitled to survivors’ compensation annuity	Ratio
1 person	5 %
2 person	10 %
3 person	15 %
4 persons (maximum)	20 %

※ Scope of Persons Entitled to Survivors' Compensation Annuity (Article 63 of Industrial Accident Compensation Insurance Act)

The spouse of the relevant employee and any of the following survivors whose livelihood had been supported by such employee as at the time of the employee's death (excluding those who were not Korean nationals and were living in foreign countries as at the time of the employee’s death)
1. Parents or grandparents respectively aged at least 60 years;
2. Children aged below 25 years;
3. Grandchildren aged below 19 years;
4. Siblings aged below 19 years or at least 60 years;
5. Any person who is a child, parent, grandchild, grandparent, or sibling who does not fall under any of subparagraphs 1 through 3 and who falls under a disability level prescribed by Ordinance of the Ministry of Employment and Labor, among persons with disabilities provided for in Article 2 of the Act on Welfare of Persons with Disabilities.

"Survivors whose livelihood had been supported by the employee" refer to those falling under any of the following subparagraphs at the time of the employee's death:
1. A survivor who had lived with the employee in the same household on the resident registration cards under the Resident Registration Act and all or substantial part of whose livelihood had been maintained by the employee's income;
2. A survivor, all or a substantial part of whose livelihood had been maintained by the employee's income but who was registered as having resided in a different household from, or had not lived with, the employee due to study, employment, medical care, or other residential circumstances;
3. A survivor other than those referred to in subparagraphs 1 and 2, all or most part of whose livelihood had been maintained with the help of money and other valuables or economic support regularly provided by the employee.

Industrial Accident Compensation : Survivors’ Benefits