Korea Joongang Daily
Korea JoongAng Daily

Major pension reforms to increase contribution rates, benefits to take effect in 2026

Major reforms to the national pension system will take effect next year, including increases in both contribution rates and payout levels.

2025-12-29

Korea's forex crackdown on exporters raises concerns of gov't overreach

Experts warn that the government's move to “closely monitor” major exporters in case they hoard dollars may not only fail to achieve its goal but could also risk intervening in management decisions.

2025-12-12

Foreigners using NPS's 'buyback' system as longterm investment strategy

In Korea, some foreign residents are finding an unlikely investment opportunity in the country’s public pension system. By making lump-sum “buy-back” payments to cover years of missed contributions, they can secure lifetime monthly benefits.

2025-10-24

Korea plans to ease pension cuts for working older people and retired couples

The government plans to ease pension rules that reduce monthly benefits for older people who continue earning income after retirement. The policy that cuts basic pension benefits for married couples will also be scaled back.

2025-08-19

Some national pension contributions set to rise as new criterion take effect in July

A new national pension criterion will take effect starting in July, raising some subscribers' monthly contributions by up to 18,000 won ($13).

2025-06-29

Rival parties agree to special committee on pension reform

The conservative People Power Party and liberal Democratic Party agreed to form a special committee to resolve the contentious issue of pension reform amid concerns about its sustainability.

2025-02-26

Pension service's multilingual AI employee gets broader rollout

The National Pension Service has launched an AI employee, Youn-a, to assist foreign visitors with real-time interpretation in 10 languages at multiple service centers.

2024-11-11

Public favors higher pension contribution, future payout

A small majority of those surveyed favor a 4-percentage-point increase in the contribution to the National Pension Service, with an increased payout in the future.

2024-04-29

Korean Air chair's reappointment opposed by National Pension Service

The National Pension Service (NPS), the second-largest shareholder of Korean Air, voiced its opposition of the reappointment of Korean Air and Hanjin KAL chairman Walter Cho as a board member of the airline company.

2024-03-15

Panel proposes major overhauls to national pension

A subpanel under a parliamentary committee for pension reform has endorsed two potential strategies for overhauling the national pension system on Tuesday.

2024-03-12