retirement pensions Archives

South Korea Launches Campaign to Help Workers Recover Over 110 Billion Won in Unclaimed Retirement Pensions

SEOUL, Mar. 5 (Korea Bizwire) –The South Korean government and financial institutions have initiated a campaign to assist employees in reclaiming unclaimed retirement pensions, which have accumulated to more than 110 billion won due to workers not claiming them. As of the end of last year, the Ministry of Employment and Labor reported that unclaimed [...]

Interim Withdrawal of Retirement Pensions Hit Record in 2020 Due to COVID-19

SEJONG, Jan. 12 (Korea Bizwire) — The number of South Koreans who withdrew money from retirement pensions due to financial difficulties such as personal bankruptcies or rehabilitation reached an all-time high in 2020 amid coronavirus outbreak. The number of people who withdrew money from retirement pensions during the process of personal rehabilitation or bankruptcy totaled 7,110, consisting of 6,908 [...]