South Korea pension fund in crisis as aging outpaces reform (NikkeiAsia/7 Oct 2024)

Nikkei Asia reports that South Korea's pension system faces collapse by 2055 due to an aging population and low birth rates. President Yoon's proposal to raise contribution rates and adjust benefits is met with resistance from both the public and opposition. These demographic challenges are straining the system, raising concerns about future pension sustainability and growing elderly poverty.