KOREA: More Senior Citizens to Qualify for Allowances

SOEUL, Korea (KBS), July 29, 2008: Senior citizens aged 65 or older with a monthly income of less than 680-thousand won (about 674 dollars), will qualify for the basic old-age pension program starting next year. The Ministry for Health, Welfare and Family Affairs said the monthly income cutoff will be raised from the current 400-thousand won level to 680-thousand won for an elderly person living alone, and from 640-thousand won to one-million-90-thousand won for a couple. For those without incomes, the total asset value will determine qualifications. For singles, the asset baseline will be raised from 96-million won, about 95-thousand dollars, to 163-million won, and from 154-million won to 261-million won for a couple. As a result, 70 percent of the elderly population will qualify for the allowance. KBS WORLD Radio