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Hyundai Motor to Support Post-retirement Life of Employees in Their 50s

Hyundai Motor to Support Post-retirement Life of Employees in Their 50s

SEOUL, April 22 (Korea Bizwire) — Hyundai Motor Co. has introduced a new program to support senior employees who want to look for new career opportunities after early retirement. The South Korea’s leading carmaker recently started operating a Career Consulting Service (CCS) program targeting employees over 50 who want to change jobs or careers, according [...]

Pension Savings Grow 5 pct in 2021 amid Youngsters’ Keen Interest in Retirement Preparations

Pension Savings Grow 5 pct in 2021 amid Youngsters’ Keen Interest in Retirement Preparations

SEOUL, April 11 (Korea Bizwire) — South Korea’s personal pension savings grew 5 percent in 2021 as younger people have keen interest in making preparations for post-retirement life, data showed Monday. The country’s personal pension savings reserves came to 160.1 trillion won (US$130.2 billion) last year, up from the previous year’s 152.5 trillion won, according [...]

Voluntary Retirement for Teachers on Rise amid Pandemic

Voluntary Retirement for Teachers on Rise amid Pandemic

SUWON, Jan. 10 (Korea Bizwire) — The protracted COVID-19 pandemic has brought about a major change in teaching methods, leading to an increase in the number of teachers applying for voluntary retirement. According to the Gyeonggi Province Office of Education, the number of teaching faculty (teachers, vice principals and principals) at the public schools within [...]

Corporate Retirement Pension Funds Gain 16.1 pct in 2020

Corporate Retirement Pension Funds Gain 16.1 pct in 2020

SEJONG, Dec. 23 (Korea Bizwire) — Corporate retirement pension funds under management expanded more than 16 percent in 2020 from a year earlier as the system has taken root here, government data showed Thursday. Cumulative corporate retirement pension funds stood at 255 trillion won (US$214 billion) as of end-December last year, up 16.1 percent from [...]