With its population aging at an unprecedented pace, Korea is likely to see its welfare expenditure continue to increase in the coming years. An efficient way of narrowing the demand-and-supply gap in welfare services may be through promote as much volunteerism as possible. This would require providing a set of protection mechanisms with which to induce more people to participate in volunteering. This study suggests an extension of the coverage of the Industrial Accident Compensation Insurance to include volunteers so that they can be better protected from the risks they may ncounter in volunteering. As of 2015, a total of 3,746,577 volunteers were at work in Korea. The Industrial accident Insurance as it stands provides only limited coverage for accidents incurred in volunteering. Moreover, volunteers in Korea are not covered by such income replacement programs as temporary incapacity benefits and disability benefits. This study examines volunteering in Korea and to what extent Korean volunteers are covered under the Industrial Accident Compensation Insurance. Implications are drawn for Korea from an in-depth examination of the legal status of volunteers and the extent to which they are protected by industrial insurance programs in selected foreign countries including Germany and France.Findings of this study suggest that the Industrial Accident Compensation Insurance be extended first to volunteers participating in formal projects that are supported by the government or public organizations, and over time to volunteers working in informal projects as well. Also, the insurance coverage should be made mandatory for volunteers. On the other hand, as volunteering is not a substitute for a paid job, volunteers may need to remain restricted from the temporary incapacity benefit program.