Social security is one of the fields where artificial intelligence (AI) technology is being actively applied. Chapter 2 of this report examines the current trends in AI development and proposes ethical principles for its application. Chapter 3 reviews case studies of AI implementation in institutions both in Korea and abroad. In the Korean context, 36 projects in social security area employing AI technology were identified. Similarly, as examined in Section 3.2, case studies from other countries demonstrate that relatively basic AI technologies, such as chatbots are widely utilized. Chapter 4 analyzes the regulatory trends concerning AI technology in the social security sector, both domestically and internationally. It was found that Korea lacks adequate regulations in this area yet. Internationally, two key regulatory frameworks were analyzed: the European Union’s Artificial Intelligence Act and Executive Order 14110 issued by the Biden administration in the United States. Both regulations regard the social security domain as a critical target for regulation and present concrete measures for technological advancement and regulatory oversight. Finally, the report identifies ten domains in which AI technologies are applied within the social security sector, and classifies the associated benefits and risks into seven categories each. The report concludes by offering eight policy recommendations to support and regulate AI applications in the field of social security.

The analysis is conducted by considering the main characteristics of the national pension, which determines the pension level according to one's labor income during the working period. Considering the life cycle, such as the extension of life expectancy, it is necessary to analyze lifetime income until retirement and expected pension assets until death.
The analysis results showed that although the national pension is a representative old-age income security system, it is not sufficient to prepare for retirement income with the national pension alone. Although the pension level is insufficient, it appears to be a good system in terms of profitability. For individuals, it is necessary to give priority to the national pension system for old-age income. In order to secure a more generous old-age income, it is necessary to consider other old-age systems such as retirement pensions. To ensure fiscal sustainability, we may want to consider parametric reforms that could further ease the current benefit-cost structure. In addition, it is necessary to review further maximize the fund management return rate and alleviate the overall financial burden.