KDI President: "Neglecting Pension Reform Is a Failure of Basic Responsibility to Future Generations"

[Image source=Yonhap News]

[Asia Economy Sejong=Reporter Kim Hyewon] Cho Dongcheol, President of the Korea Development Institute (KDI), said on the 15th, "Neglecting to reform a pension system that is almost certain to go bankrupt is a failure to fulfill the minimum responsibility to future generations."

On the same day, at the 1st National Task Review Meeting presided over by President Yoon Seokyeol at the Blue House State Guest House, President Cho stated, "A few months ago, I became a grandfather as I saw my grandchild, and I have been deeply contemplating what kind of world we will leave to our children."

He emphasized, "Even though (children) are full of the will to improve their abilities, no one should be deprived of opportunities due to difficult family circumstances," adding, "Each individual's ability should be given sufficient opportunities to be demonstrated." He continued, "To give hope to the youth, we need to reduce the national debt burden and, at the same time, provide opportunities to develop and fully demonstrate their abilities," and added, "In that context, reforms in pensions, education, and the labor market are essential reform tasks that cannot be abandoned as a single package within a broad framework."

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