South Korea Eyes Raising Basic Pension Age to Save Up to 600 Trillion Won

South Korea is considering a phased increase in the eligibility age for basic pensions to ensure long-term fiscal sustainability. Projections suggest this shift could reduce government spending by 200 to 600 trillion won over the coming decades. While the move aims to tackle the pressures of a rapidly aging population, it will likely spark intense debate over elderly poverty and social safety nets.