Korea Workers' Compensation and Welfare Service launches 'one account per person' campaign for Pureunssiaat IRP

The Korea Workers' Compensation and Welfare Service is pushing to expand enrollment in Pureunssiaat IRP (Blue Seed IRP), South Korea's first public fund-type individual retirement pension, which launched last month.

The agency announced Tuesday it is running a "one Pureunssiaat IRP account per person" campaign to accelerate early adoption and raise public awareness of the pension system.

Pureunssiaat IRP was introduced on July 1 as a publicly managed, fund-type individual retirement pension. It is open to any income-earning citizen — not just salaried workers, but also the self-employed and independent contractors.

Unlike a standard individual retirement pension, which requires account holders to compare and select financial products on their own, the agency manages accumulated funds through an outsourced chief investment officer. The system is also designed to continue asset management after a subscriber begins drawing pension payments.

Since its launch, Pureunssiaat IRP has attracted 853 subscribers, 116 of whom are Korea Workers' Compensation and Welfare Service employees.

The agency organized the internal campaign so that its own staff could experience the system firsthand and then explain its features and benefits to prospective subscribers. A campaign event was held Tuesday at the agency's headquarters, with President Park Jong-gil and employees in attendance, offering guidance on the pension's purpose and enrollment process.

Information sessions will be held through September at regional offices, agency-affiliated hospitals and other affiliated institutions nationwide. The agency also plans broader public outreach through media interviews, online content, municipal digital billboards and YouTube.

"Pureunssiaat IRP was created so that all working people — not just employees, but also the self-employed and independent contractors — can use the professional asset management services of a public fund to prepare for retirement," Park said. "We will expand the enrollment base so that it becomes a public fund-type retirement pension that citizens can trust and choose with confidence."