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flag South Korea proposes raising national pension contribution rate from 9% to 13% for an aging population.

flag South Korea's government has proposed raising the national pension contribution rate from 9% to 13% to address the fund's depletion due to an aging population. flag Increases will vary by age group, with the plan requiring parliamentary approval. flag The reform aims to sustain the pension system, maintain a 42% income replacement rate, enhance investment returns, and introduce an automatic adjustment system for benefits. flag If approved, this will be the first contribution rate increase in 27 years.

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