Korean corporate pension assets tipped for strong growth

Korean corporate pension assets more than doubled in 2010 to about $26 billion, with inflows of $13.5 billion during the year. This increase was the highest level in the past five years, according to Towers Watson. Jayne Bok, director of investment consulting at Towers Watson in Seoul, says 2010 can be considered the key year for plan adoption, as existing tax benefits on legacy severance pay schemes were phased out. “This encouraged companies to set up funded schemes with servi…