SEOUL, Oct. 29 (Korea Bizwire) — South Korea has convened labor, business and government representatives to pursue the first major overhaul of the nation’s retirement pension system in more than two decades, aiming to strengthen income security for an aging workforce. The Ministry of Employment and Labor on Tuesday launched a tripartite task force dedicated to [...]
SEOUL, Dec. 20 (Korea Bizwire) — The number of South Koreans who made an interim withdrawal from their retirement pension in 2021 to buy a home reached an all-time high, government data showed Monday, as the country’s housing prices have skyrocketed over the past couple of years. According to the data from Statistics Korea, 55,000 [...]
SEJONG, Dec. 19 (Korea Bizwire) — Corporate retirement pension funds under management expanded 15.5 percent in 2021 from a year earlier, government data showed Monday. Cumulative corporate retirement pension funds stood at 295 trillion won (US$226 billion) as of end-December last year, up 40 trillion won from a year ago, according to the data compiled [...]
SEOUL, Dec. 17 (Korea Bizwire) — The “MZ generation,” a Korean term referring to millennials and Generation Z, are relatively more rigorous in terms of managing their retirement pensions, a survey showed Thursday. Mirae Asset Global Investments, a South Korean asset management firm, conducted a study of 1,000 office workers born between 1982 and 1996 [...]
SEOUL, Nov. 15 (Korea Bizwire) — Local securities firms are moving quickly to preempt the emerging retirement pension market as a future growth engine. The government will push for the mandatory introduction of retirement pensions through a legal revision, while introducing a retirement pension fund for small and medium-sized companies. The plan is aimed at [...]