"Increased Elderly Welfare Spending... Need to Establish a 'Social Investment-Type' Welfare System"

Ministry of Strategy and Finance Holds the 1st Future Strategy Forum of 2021

[Sejong=Asia Economy Reporter Moon Chaeseok] On the 14th, the Ministry of Economy and Finance held the '1st Future Strategy Forum' and discussed policy tasks in the fields of welfare, labor, and health.

In the keynote presentation that day, Professor Yang Jaejin of the Department of Public Administration at Yonsei University stated that social expenditures due to recent aging are rapidly increasing, and in particular, elderly welfare expenditures such as pensions and medical care are expected to rise sharply. He emphasized the need to establish a social investment-type welfare system that enhances the capabilities of the working-age population.

Senior Research Fellow Heo Jaejun of the Korea Labor Institute and Professor Lim Jun of the Graduate School of Urban Health at the University of Seoul gave presentations on improving labor-management relations and South Korea's health care strategy, respectively.

The Ministry of Economy and Finance said, "The forum's discussion points will be reflected in future discussions by the Ministry's mid- to long-term strategy committee."

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