Joo Ho-young "Accepts Chairmanship of National Assembly Pension Reform Special Committee... Committee Members Not Yet Decided"

Special Committee Members Comprise 13 in Total: 6 from People Power Party, 6 from Democratic Party, and 1 from Minor Negotiation Group

Joo Ho-young, People Power Party member / Photo by Dongju Yoon doso7@

[Asia Economy Reporter Geum Bo-ryeong] Joo Ho-young, a member of the People Power Party, has been appointed as the chairman of the National Assembly's Special Committee on Pension Reform.

According to a People Power Party official on the 25th, Kwon Seong-dong, the acting party leader and floor leader, requested Joo to take the position of chairman of the Pension Special Committee, and Joo accepted.

Joo, a five-term veteran lawmaker, previously served as the chairman of the Policy Committee of the Saenuri Party (the predecessor of the People Power Party) and also chaired the National Assembly's Special Committee on Public Officials' Pension Reform.

The People Power Party and the Democratic Party of Korea agreed on the formation of the Pension Special Committee on the 22nd during negotiations for the second half organization of the 21st National Assembly. The committee is expected to discuss reform measures for pension financial stability and the four major public pensions.

The special committee will consist of 13 members: 6 from the People Power Party, 6 from the Democratic Party, and 1 from a non-negotiating group. The committee will officially launch once each party appoints its members.

In a phone interview with Asia Economy, Joo said, "It is true that I have been appointed as the chairman of the Pension Special Committee," but added, "The members have not yet been finalized."

Yang Geum-hee, the floor spokesperson for the People Power Party, also said, "It has been decided that Joo will chair the Pension Special Committee, but the members need to consult with the chairman and the Policy Committee, so it will take some time."

After the plenary session of the National Assembly on the 22nd, where the formation plan of the Pension Special Committee was approved, Acting Leader Kwon told reporters, "We expect to reach a grand compromise after a very difficult process," and added, "Whether this will be completed in one year or two years depends on further discussions."

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