Yoo Seung-min: "President Moon and Democratic Party Must Join Pension Reform"

"Pension Reform Missing... If It Continues Like This, the Outlook Is Bleak"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] Former People Power Party lawmaker Yoo Seung-min expressed full agreement on the 16th with Justice Party leader Kim Jong-cheol's proposal to integrate the civil servant and private school teachers' pensions into the National Pension Service. He stated, "The political sphere must unite and pool wisdom to carry out pension reform that integrates the National Pension, Civil Servant Pension, and Private School Teachers' Pension."

On the same day, Yoo said on Facebook, "President Moon Jae-in and the Democratic Party should stop worrying about the Korean Government Employees' Union and the Korean Teachers and Education Workers Union and join pension reform for the future of the country."

Yoo added, "During the Park Geun-hye administration, as the ruling party floor leader, I pushed through civil servant pension reform despite conflicts with the Blue House. It was a reform that saved taxpayers 37 trillion won over the next 30 years and 333 trillion won over 70 years," and criticized, "However, under the Moon Jae-in administration, pension reform has completely disappeared, and if this continues, the future of the people looks bleak."

Yoo concluded, "I applaud Leader Kim's courageous proposal beyond political camps," and said, "I hope we can move beyond populist competition and work together on rational and common-sense reforms for the true future of the Republic of Korea."

This content was produced with the assistance of AI translation services.