Republic of Korea: Selected Issues

International Monetary Fund

No 2003/080, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper highlights that the authorities in the Republic of Korea recognize the pension policy challenges ahead, and a first wave of reforms has already been launched. Despite the reforms to date, much remains to be done. Without further reforms, the public pension systems in Korea are not financially sustainable. This paper considers options for moving to a funded first-pillar pension system. The main results show that a sustainable, funded pension system can be achieved in Korea with reasonably modest changes to key parameters and extra financing.

Keywords: ISCR; CR; GDP; GDP growth; replacement ratio; loan; total factor productivity; equilibrium ratio; TFP growth; budget authorities; pension system assets; equity allocation; investment strategy; labor share; Pension spending; Credit; Consumer credit; Loans; Budget planning and preparation; Australia and New Zealand; Global (search for similar items in EconPapers)
Pages: 68
Date: 2003-03-19
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Citations: View citations in EconPapers (4)

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