TechFlow News: On April 13, according to Digital Asset, South Korea’s Board of Audit and Inspection (BAI) released a report recommending that the Ministry of Health and Welfare revise relevant laws to include overseas financial assets with economic value and digital assets (virtual assets) in the asset assessment for basic pension eligibility. The BAI noted that digital assets are currently excluded from asset evaluations, potentially allowing high-income individuals holding substantial digital assets to still qualify for basic pensions. The report recommends that future income and asset declaration forms submitted by applicants include digital assets and that information-sharing mechanisms with relevant agencies be strengthened to improve data collection. The Ministry of Health and Welfare agreed with the recommendation and emphasized the need to enhance oversight to ensure fair basic pension disbursements and prevent loss of fiscal resources.
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