Korean pension market jumps by one-third

South Korea’s corporate pension market grew by 35.9% in December to $12.2 billion as big companies entered the new system.

South Korea's corporate-pension industry is now surging, as some of the country's biggest employers join the new system.

In December, the industry's assets under management grew to $12.2 billion. That month alone saw the industry grow by 35.9%, or $3.4 billion, thanks to the entry of Samsung Electronics and LG Group, among others. As of September, the system counted 1.48 million account-holders.

The corporate-pension industry began in December 2005 with a five-year grace period before tax breaks for the traditional retirement insurance system are lifted, in an effort to ...