SEOUL, Feb. 21 (Korea Bizwire) — A social security agreement between South Korea and New Zealand will go into effect next month, allowing their nationals to use their employment and residences in both countries to qualify for pension benefits, Seoul’s foreign ministry said Monday. The two sides signed the accord in October 2019 for those [...]
SEOUL, Sept. 17 (Korea Bizwire) — South Korea’s financial watchdog is set to return unclaimed personal pension benefits being held by insurance companies. After searching for people entitled to unclaimed personal pension benefits, the Financial Supervisory Service (FSS) found that there were a total of 3,525 personal pensions with an aggregate value of 72.8 billion [...]
SEOUL, May 23 (Korea Bizwire) – A new report has revealed that South Koreans on average receive pension benefits that are significantly lower than the average income in the country before retirement, making the lives of retirees harder for those who rely on pensions. According to an audit report on the national pension system released [...]