South Korea keeps basic pension threshold at bottom 70%, adds 30,000 won for poorest seniors

South Korea will keep the basic pension’s existing eligibility rule for the bottom 70% of older people, while giving the poorest recipients a larger monthly payment.

Under the plan, the bottom 30% of income earners among older people will receive 380,000 won a month from April next year, an increase of 30,000 won. The group includes 3.48 million people.

The government had initially pursued a more substantial overhaul. It planned to replace the current eligibility standard with median household income and gradually reduce payments to higher-income recipients, creating a system designed to give more to those with less.

The revised approach keeps the broad threshold and introduces income-based payments across three groups, with the largest increase going to the lowest-income seniors. Critics say the reform effectively failed after the government, whose approval rating had fallen into the 30% range, responded to public opposition. They also argue that government spending will rise instead.