SEJONG, Jan. 12 (Korea Bizwire) — The number of South Koreans who withdrew money from retirement pensions due to financial difficulties such as personal bankruptcies or rehabilitation reached an all-time high in 2020 amid coronavirus outbreak.
The number of people who withdrew money from retirement pensions during the process of personal rehabilitation or bankruptcy totaled 7,110, consisting of 6,908 for rehabilitation processes and 202 for bankruptcies, according to data from Statistics Korea.
This figure is the highest since related statistics began to be compiled in 2015.
The amount of money withdrawn from retirement pensions also reached an all-time high at 89.7 billion won (US$75.4 million), more than twice as high as the 40.8 billion won reported in 2015.
By age, those in their 30s and 40s who are the backbone of the Korean economy accounted for 76.7 percent (5,454) of those who withdrew money from retirement pensions due to personal rehabilitation or bankruptcies.
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