South Korea’s basic pension system is facing renewed scrutiny after the government unveiled a reform plan on September 1 that retained unconditional eligibility for 70% of seniors aged 65 and older. Research based on the government’s 2020 Senior Survey found that 64.3% of basic pension recipients were classified as non-poor, compared with 35.7% who were below 50% of median income. The top 10% of recipients held average net assets of 556.29 million Korean won, 240 times the 2.32 million won held by the bottom 10%. The findings reinforce criticism that limited funds are spread too broadly, a concern also raised by the OECD. The Korean Association of Public Finance has warned that costs could reach 49.07 trillion Korean won in 2035 if unconditional coverage continues, while an earlier projection put the figure at 71.72 trillion won by 2045. Existing eligibility rules and political resistance have made reform difficult despite calls to target poorer seniors and increase minimum support.