President Yoon: "The Speed of Insurance Premium Increases Should Differ Between Youth and Middle-Aged Groups"

President Yoon Suk-yeol announced that he will promote pension reform by differentiating the speed of insurance premium increases between the youth and middle-aged generations.

President Yoon Suk-yeol is answering questions at the 'National Briefing and Press Conference' held on the morning of the 29th at the Yongsan Presidential Office building in Seoul. [Image source=Yonhap News]

On the 29th, at the 'National Briefing and Press Conference' held at the Yongsan Presidential Office, President Yoon said, "We will pursue reforms that the youth generation, who pay insurance premiums the longest and the most but receive pensions the latest, can accept," adding, "It is necessary to differentiate the speed of insurance premium increases between the youth and middle-aged generations."

On the 29th, citizens are watching President Yoon Suk-yeol's government briefing in the Seoul Station waiting room. Photo by Kang Jin-hyung aymsdream@

He also stated, "The state’s guarantee of (National Pension) payments must be codified in law," and added, "Only then can we instill confidence in the youth that 'we will also be able to receive it.'"

Presenting sustainability, intergenerational fairness, and old-age income security as the three main principles of pension reform, he requested the National Assembly’s cooperation on pension reform. President Yoon said, "Since pension reform is completed through legal amendments, I hope the National Assembly will promptly establish a discussion framework."

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