Kim Yong-jin, National Pension Service Chairman, Resigns with 1 Year and 4 Months Left in Term

First Case After Yoon's Election ... New Government Likely Deems Completing Term Difficult

[Asia Economy Reporter Jo In-kyung] Kim Yong-jin, Chairman of the National Pension Service (NPS) (photo), has submitted his resignation with 1 year and 4 months remaining in his term. Since the formation of the Presidential Transition Committee, Kim is the first head of a major public institution with a remaining term to express his intention to resign.

According to the Ministry of Health and Welfare and the National Pension Service on the 16th, it has been confirmed that Chairman Kim recently expressed his intention to resign to the Ministry of Health and Welfare. If his resignation is accepted, it is reported that a retirement ceremony will be held as early as the 18th at the NPS headquarters in Jeonju, Jeollabuk-do.

Kim did not make any special remarks regarding the reason for his resignation. However, inside and outside the NPS, there is speculation that since the new government pledged pension reform and is expected to prepare reform plans through new personnel, the current chairman may have judged that it would be difficult to complete his term.

President-elect Yoon Seok-youl did not present a detailed blueprint for pension reform during the presidential election but announced the goal of establishing a "Public Pension Reform Committee" directly under the president to present a pension reform blueprint within his term.

If Chairman Kim resigns, he will be the first major agency head appointed by the current government to step down following the regime change decided by last month's presidential election.

Kim was appointed as chairman of the NPS on August 31, 2020. The chairman is appointed by the president upon the recommendation of the NPS Executive Recommendation Committee and the proposal of the Minister of Health and Welfare. The term is three years, and there are 1 year and 4 months remaining until the end date of August 30 next year.

Born in 1961, Kim served as Director of Welfare and Labor Budget, Head of Public Innovation Planning Team at the Public Innovation Headquarters, Director of External Economic Affairs, Public Innovation Planning Officer, and Social Budget Review Officer at the Ministry of Strategy and Finance. From June 2017 to December 2018, he served as the 2nd Vice Minister of Strategy and Finance. In the 2020 21st general election, he ran as a Democratic Party candidate in Icheon, Gyeonggi Province, but was defeated.

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