Korea to tackle US$640m pension deficit

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SOUTH KOREA - The government is set to reform its ailing government employee pension scheme, which is currently saddled with a KRW609bn (US$641m) deficit.

The government had earlier attempted to plug the growing pensions hole with a one-off payment of KRW170bn (US$179m) in 2004, and the employee pension could receive national treasury support of up t...

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