Gyeongnam Province Opens Second Enrollment for Citizen Pension

Gyeongnam Province is making a renewed push to enroll residents in its innovative "Gyeongnam Citizen Pension" program, the first of its kind initiated by a local government in South Korea. This initiative is designed to provide a crucial safety net for citizens facing potential income gaps during their retirement years. The province has announced the opening of a second recruitment phase, aiming to onboard an additional 20,589 new members, comprising 20,000 new enrollees and 589 individuals from the initial phase who did not complete their registration.

The response to the program has been overwhelmingly positive since its inception. The first recruitment drive, launched in January, saw its quota of 10,000 participants filled within just three days, overwhelming the application servers. This strong public interest, fueled by demand from various cities and counties within Gyeongnam, prompted the provincial government to expand the program's scope. Initially planned to enroll 10,000 participants annually, the plan has been revised to secure 50,000 participants over the first two years and ultimately reach 130,000 participants within a decade.

This second recruitment drive is structured in two phases, catering to different income levels. The first phase, from April 20th to 24th, targets individuals with an annual income below 54.55 million won, while the second phase, from April 27th to 30th, is open to those with an annual income up to 93.52 million won. Eligibility also requires participants to be born between 1971 and 1985 and to have active employment or business income. The provincial government's commitment to supporting its citizens' financial well-being in their later years is evident in this ambitious and responsive program, which we at Hankyoreh believe is a model for other regions to consider.

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This additional recruitment drive is a result of actively reflecting the demands of citizens in their 40s and 50s. We hope that the Gyeongnam Citizen Pension will become a practical support for citizens facing an income gap.