Korea English Magazine

The Four Major Insurance system is an essential social security scheme in South Korea that anyone employed or running a business must pay monthly, with premiums automatically deducted from their salary. Many employees sigh when they see the surprisingly large amount deducted from their pay stubs each month, yet few actually understand exactly why that … Read more

To receive a stable monthly income of 1 million won from the National Pension, you must carefully calculate your enrollment period and contribution amounts in advance. While monthly premiums might feel like a waste, checking your exact estimated benefits now is advantageous for building a solid financial foundation for retirement. I often see friends starting … Read more

If you keep a lump sum in your Retirement Pension IRP account, you must strictly manage your annual withdrawals to stay under 15 million won to avoid a tax bomb later on. Mr. Kim, an office worker, recently transferred his severance pay to an Individual Retirement Pension account and, without giving it much thought, withdrew … Read more

To stably receive 1 million KRW per month from the National Pension, you must consistently maintain your enrollment period for at least 20 years and increase your contribution amounts. Many office workers are curious about how much they will actually receive each month as they approach retirement, but they often give up when they see … Read more

The Korea Exchange (KRX) has announced the immediate introduction of a new proprietary industry classification system called “KRICS,” designed to precisely reflect the structure of the domestic industry and the characteristics of listed companies. For a long time, there has been persistent criticism that existing classification standards struggled to adequately capture the core industrial groups … Read more

Relying solely on the National Pension for your retirement can lead to severe financial difficulties, as your living expenses may far exceed your income once you retire. These days, many office workers around me are thoroughly preparing for the so-called three-tier pension system by accumulating National Pension, Corporate Pension, and Personal Pension together. Setting aside … Read more

If you properly utilize your Individual Retirement Pension (IRP) account, you can receive tax refunds ranging from several hundred thousand to several million won during your annual tax settlement. In the past, many people received their severance pay as a lump sum and spent it immediately. However, transferring funds to an IRP to grow them … Read more

Actively utilizing an Individual Retirement Pension (IRP) account can result in tax refunds ranging from several hundred thousand to several million won during your annual tax settlement. While these accounts were once viewed merely as a storage place for company-provided severance pay, they have recently established themselves as an essential tool for asset management. Mr. … Read more

The infrastructure required to produce a single fingernail-sized semiconductor and run artificial intelligence smoothly is becoming unimaginably massive. Semiconductor fabrication plants must operate hundreds of precise processes without a single second of downtime, while AI servers run 24/7, constantly dissipating heat. As the government designates semiconductors and AI as the next growth engines, the speed … Read more

The Individual Retirement Pension (IRP) account is an essential financial product that allows you to maximize tax deductions of up to 9 million KRW annually while simultaneously growing your retirement assets. Unlike in the past, when severance pay was primarily paid as a lump sum, more and more people are now managing their own retirement … Read more