Reform Archives | Be Korea-savvy
S. Koreans Born After 1990 Will Not be Able to Claim Their State Pension: Report

S. Koreans Born After 1990 Will Not be Able to Claim Their State Pension: Report

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 [...]

Mandatory Military Service Period to be Reduced to 18 Months by Next Year

Mandatory Military Service Period to be Reduced to 18 Months by Next Year

SEOUL, Dec. 16 (Korea Bizwire) — The defense ministry said Wednesday it will complete reducing the mandatory military service period to 18 months by next year as planned as part of a series of reform projects under way to make the military “smaller and stronger.” During a meeting on defense reform presided over by Defense [...]

Gov’t Announces Financial Services Reforms

Gov’t Announces Financial Services Reforms

SEOUL, March 25 (Korea Bizwire) — South Korea’s chief financial regulator has announced a host of new policy measures and reforms, including a measure to prevent parents who are estranged from their children from receiving insurance money for their children’s deaths. The Financial Services Commission (FSC) said Tuesday that it has drawn up 18 improvements [...]

S. Korea to Turn Key Elite Schools into General Ones by 2025

S. Korea to Turn Key Elite Schools into General Ones by 2025

SEOUL, Nov. 7 (Korea Bizwire) — South Korea on Thursday announced a plan to transform three categories of elite high schools into general schools by 2025 to promote fairness in education and improve overall public education. The education ministry said autonomous private, foreign language and international high schools will be deprived of their status of [...]