Korea plans to require firms to hold retirement funds externally by 2030

What happened: South Korea plans to require all employers to hold workers' retirement funds at external financial institutions by 2030, phasing in the rule from 2028 for workplaces with at least 100 employees. Key numbers: Phase-in: 2028 for 100+ Why it matters: The government says external holding would protect benefits from companies' financial difficulties. The Korea Enterprises Federation backed the changes but sought financial support, a phased rollout, and investment risk safeguards. The government aims to prepare legislation in November and pass it before the end of the year.

South Korea plans to require all employers to hold workers' retirement funds at external financial institutions by 2030, phasing in the rule from 2028 for workplaces with at least 100 employees.

The government says external holding would protect benefits from companies' financial difficulties. The Korea Enterprises Federation backed the changes but sought financial support, a phased rollout, and investment risk safeguards. The government aims to prepare legislation in November and pass it before the end of the year.