Total private pension assets in South Korea reached $682.4 billion USD in 2023, marking a 6.31% increase year-on-year from 2022. Historically, the assets have shown substantial growth, with notable spikes such as a 22.19% increase in 2017 and a 10.35% rise in 2020. Over the past five years, the Compound Annual Growth Rate (CAGR) was 8.44%.
Future projections forecast a consistent upward trend, reaching $879.03 billion USD by 2028, with a 5-year CAGR of 4%. This reflects a projected overall growth rate of 21.66% from 2024 to 2028, indicating steady but slower growth compared to previous years.
Future trends to watch for include regulatory changes impacting pension fund investments, demographic shifts such as an aging population, and the broader economic environment influencing fund performance and contributions.
