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South Korea’s Corporate Retirement Pension Funds Jump 15.5% in 2021: Statistics Korea
South Korea’s corporate retirement pension funds under management expanded 15.5% to 295 trillion won as of end-December 2021 from a year earlier, Yonhap News reported Monday, citing data compiled by Statistics Korea.
A total of 425,000 firms in the country adopted the retirement pension funds scheme for their employees as of last year, marking a growth of 4% from 2020, according to the report.
The corporate retirement pension program covered nearly 6.8 million workers in 2021, which accounted for 53.3% of all eligible workers, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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