First Meeting of the National Assembly Pension Special Committee... "Expecting a Century-Long Public Pension Plan That Resonates with the People"

Joo Ho-young of People Power Party Appointed as Chairman
Kim Seong-ju, Opposition Party Secretary, "Let's Address the Pension System Beyond Party Lines"

The Special Committee on Pension Reform of the National Assembly held its first plenary meeting on the 25th to officially begin discussions on pension reform, with Joo Ho-young, a member of the People Power Party elected as the chairman, presiding over the meeting. (Photo by Yonhap News)

[Asia Economy Reporter Kum Boryeong] The National Assembly Special Committee on Pension Reform held its first plenary meeting on the 25th and officially began discussions on pension reform.

The National Assembly Special Committee on Pension Reform held a plenary meeting at the National Assembly that day and appointed Joo Ho-young, a member of the People Power Party, as the chairman. The floor leaders from both parties were Kang Ki-yoon of the People Power Party and Kim Seong-ju of the Democratic Party. Committee members included Kim Mi-ae, Bae Jun-young, Bae Hyun-jin, and Yoon Chang-hyun from the People Power Party; Kim Min-seok, Song Ok-joo, Lee Yong-woo, Lee Hae-sik, and Jeong Tae-ho from the Democratic Party; and Kang Eun-mi from the Justice Party.

Chairman Joo said at the meeting, "Our entrusted duty is to reconcile national conflicts and ensure stable retirement funds for all generations," adding, "I hope that the wisdom and capabilities of the committee members will be fully utilized in the committee’s activities so that a public pension system with a hundred-year plan that all citizens can agree on can be established."

Opposition floor leader Kim Seong-ju said, "I hope we hold several important principles in approaching pension reform. We should handle the pension system beyond party lines," emphasizing, "We should not limit specific agendas or targets but freely address all systems that help guarantee citizens' retirement income, and considerations of financial sustainability must also be included."

Following this, ruling party floor leader Kang Ki-yoon explained, "The Pension Special Committee is not about the ruling or opposition parties but about the people. It seems that interests will be sharply divided. I will do my best to produce results based on consensus on all matters."

Assembly member Song Ok-joo said, "Our society is facing considerable difficulties due to low birth rates and aging," adding, "There are significant concerns about pension depletion. Adequate measures must be prepared for this."

Additionally, assembly member Bae Hyun-jin said, "I hope we can find a point that achieves social grand unity beyond all generational issues," and added, "I will strive to reflect the voices of future generations as entrusted with this mission."

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