Kim Yong-jin, Chairman of the National Pension Service, Announces Resignation with 1 Year and 4 Months Left in Term

Kim Yong-jin, Chairman of the National Pension Service

[Asia Economy Reporter Song Seung-seop] Kim Yong-jin, the chairman of the National Pension Service, has submitted his resignation with 1 year and 4 months remaining in his term. This is the first time a head of a public institution has expressed their intention to resign since the Presidential Transition Committee was formed.

According to the Ministry of Health and Welfare on the 16th, Chairman Kim recently informed the ministry of his intention to resign. If his resignation is accepted, a retirement ceremony is expected to be held on the 18th at the National Pension Service headquarters in Jeonju, Jeollabuk-do.

It is reported that he did not make any special remarks about the reason for his resignation even to close associates. However, there is speculation that he may have judged that a new figure will likely be sought since President-elect Yoon Seok-yeol has pledged pension reform. President-elect Yoon has previously presented a blueprint to establish a ‘Public Pension Reform Committee’ directly under the president.

If Chairman Kim’s resignation takes place, it will be the first case of a government-appointed head stepping down after the presidential election. Chairman Kim was appointed at the end of August 2020 and has about 1 year and 4 months remaining until his term ends next year.

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