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Korea
Hankyoreh (KR)
National & Local
Retirement Pension Structure Reformed After 20 Years... Labor, Management, and Government Reach First Agreement on 'Fund-Type and External Accumulation'
After 20 years since its introduction in 2005, labor, management, and government have reached a historic agreement to reform the retirement pension system in South Korea, enhancing the fund-type retirement pension system and mandating external accumulation of retirement benefits across all businesses to ensure payouts even in case of corporate bankruptcy.
Feb 6 • 00:15 UTC