People Power Party "Reforming Wage System Centered on Performance Bonuses... Introducing Flexible Retirement Age"

Promotion of Continuous Employment System

The People Power Party announced on the 17th that it will reform the wage system focusing on performance-based pay. Additionally, to create a job structure where multiple generations coexist, it plans to promote flexible retirement age and the introduction of a continuous employment system.

At the emergency committee meeting that day, Emergency Committee Chairman Kwon Young-se said, "We will create a structure where rewards are based on performance and an environment where experienced middle-aged and older workers can continue working."

Kwon Young-se, Emergency Response Committee Chairman of the People Power Party, is speaking at the Emergency Response Committee meeting held at the National Assembly on the 17th. 2025.4.17 Photo by Kim Hyun-min

Chairman Kwon stated, "While maintaining the total wage amount, we will reduce the pay gap between entry-level and senior employees and change the structure linking performance and responsibility to invigorate the organization."

He also announced plans to introduce flexible retirement age and a continuous employment system. The explanation was that they aim to create a structure where the experience of middle-aged and older workers can continue to be utilized in our society.

Chairman Kwon pointed out, "Although aging has become a reality and various conditions including public health have significantly changed, the current retirement age remains at 60. If the current retirement system remains unchanged, skilled workers will inevitably leave the workplace, and the gap between retirement age and pension will cause insecurity in the public's old age."

He added, "We will promote reforms that provide more opportunities for youth, appropriate respect for middle-aged workers, and stability in life for the elderly by introducing flexible retirement age and continuous employment systems."

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