South Korea's Ministry of Health and Welfare has announced plans to amend the Basic Pension Act to include overseas financial assets and cryptocurrencies in the assessment of pension eligibility. This reform aims to address the Audit Board's concerns about the current asset reflection mechanism's inadequacies, which allow high-net-worth individuals to exploit domestic asset investigation loopholes to receive pensions. The proposed legislation will require applicants to declare overseas income and assets, with enhanced tax information audits to ensure fairness in the system.