PANews reported on April 15th that, according to Edaily, the South Korean government plans to reform the basic pension eligibility criteria, including overseas financial assets and virtual assets in the calculation of income recognition. This reform aims to prevent high-asset individuals from exploiting loopholes in the system to receive pensions and improve its fairness. The Ministry of Health and Welfare stated that it will advance revisions to the Basic Pension Act and review improvements to the deduction system for basic assets such as housing and land. This is a response to the Audit and Inspection Service's previous criticism that the selection method for basic pension recipients did not adequately reflect asset status. The government also plans to introduce domestic residency requirements, referencing practices in OECD countries such as Australia, Canada, Norway, and Sweden, to restrict the eligibility of returning residents who have long resided overseas. The relevant bill has been proposed for 2025 and is currently under discussion in the National Assembly.