SEOUL, Sept. 3 (Korea Bizwire) — A government-funded study, quietly withheld during South Korea’s contentious pension reform debate, has surfaced with stark warnings that elderly poverty could worsen dramatically under the current system, raising questions over transparency and policy priorities. The report, produced last December by researchers at the National Pension Research Institute, projected that if the [...]
SEOUL, August 6 (Korea Bizwire) – A new study by South Korea’s National Pension Research Institute has challenged a widely held assumption that the country’s economic and labor trends will eventually converge with those of advanced economies like the United States and Japan. In a report titled “A Study on the Convergence of Demographic and [...]
SEOUL, July 17 (Korea Bizwire) – A leading government-affiliated research institute has issued a stark warning against adopting a defined contribution (DC) pension model as an alternative to South Korea’s current national pension system, calling it a “poisoned chalice” ill-suited to the country’s demographic and economic realities. The report, released Wednesday by the National Pension [...]
SEOUL, July 16 (Korea Bizwire) — A new study has revealed that the trading strategies of South Korea’s National Pension Service (NPS), which oversees more than 1,000 trillion won ($730 billion) in assets, can significantly affect market volatility and transaction costs—particularly when investments are outsourced to external managers. According to a report released Tuesday by [...]
SEOUL, July 12 (Korea Bizwire) — South Korea’s young population is facing a looming retirement crisis due to alarmingly low enrollment in the national pension system, according to a new report from the National Pension Research Institute, released Friday. The report, titled “Strategies to Expand National Pension Coverage for Young Adults,” highlights a combination of [...]
SEOUL, July 10 (Korea Bizwire) — South Korea is weighing a significant pension reform that could bring platform workers — such as food delivery riders and chauffeur-for-hire drivers — under the same pension contribution scheme as regular employees, with their platforms potentially covering half of their premiums. A new report released Tuesday by the National [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s elderly population is grappling with insufficient pension income, as nearly half of recipients receive less than 420,000 won ($290) monthly, according to a report released by Statistics Korea on Thursday. While 90% of the country’s seniors aged 65 and older collect at least one type of pension, [...]
SEOUL, Sept. 4 (Korea Bizwire) – The government proposed raising the pension contribution rate to 13 percent from 9 percent and differentiating the pace of raising the contribution rate by age group, Health Minister Cho Kyoo-hong said, in what would be the biggest overhaul of the ailing pension system in 21 years. Details of the [...]
SEOUL, Aug. 29 (Korea Bizwire) — President Yoon Suk Yeol said Thursday that the government will pursue gradually increasing the pension premiums for the younger generation and the middle-aged generation at a different pace, as well as introduce mechanisms to enhance the pension system’s financial stability. Yoon outlined a set of reform measures during a [...]
SEOUL, Apr. 25 (Korea Bizwire) – A national survey on reforming South Korea’s pension system found that a proposal to raise contributions in exchange for higher payouts was most popular among those in their 40s and 50s, while younger Koreans were more reluctant to increase their payments, highlighting a generational divide. The results from the citizen [...]