SEOUL, Aug. 24 (Korea Bizwire) – An increasing number of South Korean seniors are opting to begin receiving national pension payments earlier than the legal standard, with the cumulative count expected to surpass 1 million individuals. According to a report from the National Pension Research Institute, the count of senior citizens opting for early pension [...]
SEOUL, Jan. 14 (Korea Bizwire) — A recent report has called for the need to reform South Korea’s pension system as quickly as possible, given the nation’s rapid population ageing and elderly poverty problem. The Korea Economic Research Institute (KERI), the research arm of the country’s conglomerate lobby Federation of Korean Industries, said in a [...]
SEJONG, May 29 (Korea Bizwire) — South Korea’s national debt surpassed the 1,200 trillion won (US$1.08 trillion) mark in 2014 due to increased fiscal spending for the economic recovery and a rise in pension payments for government employees and service members, a government report showed Friday. Gross national debt, including appropriations for pension payments, stood at [...]