Such payments cover about 33% of senior citizens in Bangladesh; and around 50% in Nepal (introduction in 1995). In Thailand, the Old Age Allowance introduced in 1993 reached close to 70% of the population aged 60 and over in 2011, and almost three/quarters of the elderly in Hong Kong (China) receive the Old Age Allowance. Similarly, the Basic Old-age Pension introduced in 2008 in Korea, reaches about 70% of the people aged 65 and over and provides KRW 200 000 (about USD 180) per month per beneficiary on average.