The Never Forgotten Korean War POW Act modifies how combat pay is calculated for Korean War veterans who were captured or went missing in action while serving in combat units. Currently, these former service members receive combat pay for only a limited period, but this bill would entitle them to receive combat pay for each full month they spent in captivity or missing-in-action status during the Korean War. The legislation applies only to veterans who are still alive when the bill is enacted and who previously received combat pay under existing law. The Department of Defense would be responsible for calculating and distributing the increased payments, adjusting amounts for inflation to reflect the time that has passed since the Korean War.