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Kyobo Global Business

Significant Growth of Corporate Pension Market in Korea, reserves exceeded KRW 40 trillion. World Finance, 01/06/2012. According to the Financial Supervisory Service and the Ministry of Employee and Labor, the number of participants of corporate pension at the end of November last year, recorded 3.017 million, and for the first time surpassed 3 million in six years. Among all 9,126,000 full time employees, 33.1% enrolled in corporate pension scheme. In terms of providers from different industries, banks ...

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Significant Growth of Corporate Pension Market in Korea, reserves exceeded KRW 40 trillion. World Finance, 01/06/2012. According to the Financial Supervisory Service and the Ministry of Employee and Labor, the number of participants of corporate pension at the end of November last year, recorded 3.017 million, and for the first time surpassed 3 million in six years. Among all 9,126,000 full time employees, 33.1% enrolled in corporate pension scheme. In terms of providers from different industries, banks ...
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Kyobo Global Business | kyoboglobal.blogspot.com Reviews

https://kyoboglobal.blogspot.com

Significant Growth of Corporate Pension Market in Korea, reserves exceeded KRW 40 trillion. World Finance, 01/06/2012. According to the Financial Supervisory Service and the Ministry of Employee and Labor, the number of participants of corporate pension at the end of November last year, recorded 3.017 million, and for the first time surpassed 3 million in six years. Among all 9,126,000 full time employees, 33.1% enrolled in corporate pension scheme. In terms of providers from different industries, banks ...

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kyoboglobal.blogspot.com kyoboglobal.blogspot.com
1

Kyobo Global Business: Summary of ERBSA Amendment in 2011

http://kyoboglobal.blogspot.com/2011/11/erbsa-amendment-2011.html

Summary of ERBSA Amendment in 2011. On June 30, 2011, the National Assembly in South Korea passed the first amendment to Employee Retirement Benefit Security Act (ERBSA), further strengthening the security of retirement savings in Korea. The amendment will take effect on 1 July, 2012, giving time for the regulators to develop the detailed rules and regulations. 1 Limitation on In-Service Withdrawal. Restriction on in-service withdrawal under SPS will be placed. 2 Flexibility in Pension Plan Type. If cont...

2

Kyobo Global Business: 05/2011

http://kyoboglobal.blogspot.com/2011_05_01_archive.html

Recent Trends of Law and Regulation in Korea (Labor and Tax). Vol 03, 2011. Published by Ministry of Justice, Republic of Korea. 1 Employment Insurance Act. The amendment aims to improve the administrative efficiency of social insurance system and to ease the inconveniences of subscribers to four different social insurance policies, i.e., National Health Insurance, National Pension, Unemployment Insurance, and Industrial Accident Compensation Insurance. Partial revision 27 Jan. 2010, Act No. 9990. It pro...

3

Kyobo Global Business: 11/2011

http://kyoboglobal.blogspot.com/2011_11_01_archive.html

Korean Pension Market Q3 Status, 2011-Quick Update. In Q3 2011, 51 pension providers in the market, accumulated KRW 38,087 billion pension reserves, including DB plan KRW 27,416 billion, DC plan KRW 6,849 billion and KRW 3,822 billion for IRA respectively. The type of plan by sector, can be illustrated as follows:. For detailed information, please contact with Global Business Division of Kyobo Life Insurance. E-mail: pension@kyobo.co.kr. Summary of ERBSA Amendment in 2011. 3 Change in Benefit Payment Met...

4

Kyobo Global Business: 02/2011

http://kyoboglobal.blogspot.com/2011_02_01_archive.html

Pension Plan Adoption Status in Korea 2010. For detailed information, please contact with Global Business Division of Kyobo Life Insurance. E-mail: pension@kyobo.co.kr. Summary of Proposed Amendments to Employee Retirement Benefit Security Act (ERBSA). I Summary of Major Changes in ERBSA. 1 Participation in Multiple Plans. 2 Multi-Employer Plans Are Allowed. 3 Pension service providers must provide policy loans secured by pension benefits. 4 Simplification of Employee Agreement Process. For Employers: Li...

5

Kyobo Global Business: Workers in workplaces with 4 workers or less can receive retirement benefits from December 1, 2011

http://kyoboglobal.blogspot.com/2011/12/workers-in-workplaces-with-4-workers-or.html

Workers in workplaces with 4 workers or less can receive retirement benefits from December 1, 2011. Ministry of Employment and Labor. From December 1, workers retiring from workplaces with four workers or less can receive retirement benefits. There are 963,366 workplaces ordinarily employing four workers or less, and 1,618,923 workers employed in such workplaces. This gradual increase in the level of benefits is intended to soften the impact on workplaces with four workers or less given their small busin...

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Kyobo Global Business

Significant Growth of Corporate Pension Market in Korea, reserves exceeded KRW 40 trillion. World Finance, 01/06/2012. According to the Financial Supervisory Service and the Ministry of Employee and Labor, the number of participants of corporate pension at the end of November last year, recorded 3.017 million, and for the first time surpassed 3 million in six years. Among all 9,126,000 full time employees, 33.1% enrolled in corporate pension scheme. In terms of providers from different industries, banks ...

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