President Lee Calls for Minimum Residency Requirement for Foreigners to Receive National Pensions

President Lee Jae-myung said South Korea should set a minimum period of domestic residency for foreign nationals seeking National Pension benefits.

Lee raised the issue while chairing a senior aides' meeting on the afternoon of the 3rd. He said the system should be improved by introducing a required period of residence in South Korea.

“

A minimum required period of residence in South Korea should be established, and the related system should be improved.

Citing a global survey, Lee said most countries that pay basic pensions through tax revenue require recipients to have lived in the country for a certain period. He added that similar legislation has also been proposed in South Korea's National Assembly.

“

According to global surveys, most countries that pay basic pensions through taxes set a requirement that recipients must have lived in the country for a certain period.