Koreans not so good at math?


From the Dong-a:

Korea will introduce next month a pension lottery that awards each winner an inheritable monthly payment of 5 million won (4,619 U.S. dollars) before taxes over a 20-year period.The new lottery is part of the Korean government`s efforts to cope with the rapidly aging society by benchmarking similar lotteries in the U.S., Canada and Germany.

Perhaps I misunderstand the article.  Is it saying that seniors could win the lottery and use the money as their pension?  Or will the proceeds from the lottery go towards senior centres and the like?

I, too, dream of winning the lottery and not worrying anymore about money.  I know better, though, and have never bought a ticket.  Surely, anyone with common sense knows that money given to lotteries is money thrown away?

I guess not:

A person can buy up to 100,000 won (924 dollars) worth of the lottery tickets at 1,000 won (92 cents) each. Sale of a ticket is banned for those under age 19.

I extended the quoted section to include the age limit.  As James at the Grand Narrative will tell you, the age of consent for sex is much lower.  It seems that the government understand somewhat that lotteries are dangerous… The money available from them is so tempting though – to the government, I mean.


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