[Graphic News] Pensions for civil servants, military cost tax payers W14tr over 5 years
Apr 13, 2014
Korea injected nearly 14 trillion won ($13.5 billion) in taxpayers’ money over the past five years to compensate for growing deficits in pension funds for government employees and military officers.According to data released by the Ministry of Strategy and Finance, the government subsidy for civil servants’ pension fund hit a new record high of 2 trillion won in 2013. The government also disbursed 1.3 trillion won last year to make up for the shortfall in the military service pension fund.The co