Democratic Party Unveils 'Chak!but' Welfare Pledges: "Easing Post-Retirement Health Insurance Burden"

The Democratic Party of Korea has announced a set of pledges for the upcoming local elections, including a "conversion to a proportional property insurance premium system" to prevent a post-retirement spike in health insurance premiums, and the "expansion of payment standards for family caregivers" to broaden benefits for family members providing care.

On April 14, the Democratic Party's People’s Livelihood and Economic Leap Forward Task Force unveiled the pledges for the June 3 local elections at the 'Chak!but Pledge Project' presentation held at the National Assembly.

Kim Tae-nyeon, the head of the Democratic Party of Korea's 'Chak!but Pledge Project,' is speaking at the announcement event for the 6th and 7th pledges held at the National Assembly on the 14th. Photo by Yonhap News Agency

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The pledge to convert to a proportional property insurance premium system aims to transition the current property insurance premium system from a graded points-based approach to a proportional model, thereby establishing a fairer burden-sharing system according to the size of one’s assets. Under the current system, premiums are assessed in tiers, resulting in a structure where even those with relatively few assets may bear a heavy insurance burden. Democratic Party leader Jeong Cheongrae explained, “When people retire, health insurance typically shifts to a local subscription basis, which significantly increases the burden. This pledge is intended to address the inconvenience faced by retirees.”

Kim Yoon, the Democratic Party lawmaker in charge of this pledge, stated, “After retirement, people become local subscribers and are required to pay 100% of their insurance premiums themselves. As a result, some consider setting up a one-person corporation or being listed as an employee at a friend’s company as a workaround. Our aim is to provide a legitimate and natural path for people to plan their post-retirement lives.”

The expansion of payment standards for family caregivers seeks to increase support for spouses, direct relatives, and siblings who provide in-home care or bathing services. Currently, the benefit is limited to ‘60 minutes per day, up to 20 times a month (with a maximum monthly payment of 506,400 won).’ The proposed change would expand this to ‘60 minutes per day, up to 31 days a month,’ raising the maximum monthly benefit to 780,000 won.

Kim Tae-nyeon, head of the People’s Livelihood and Economic Leap Forward Task Force, explained, “Even now, many people give up their jobs to stay by their parents’ side or leave their livelihoods to care for ill spouses or family members. We want to ensure that these individuals are recognized for their caregiving as a legitimate social contribution so that they do not suffer economic disadvantages.”

Additionally, the Democratic Party is considering including support for obtaining caregiver certification in its pledges. Leader Jeong noted, “There are people without formal qualifications who look after their parents 24 hours a day. Wouldn’t it be good to include them as well?” Assemblyman Kim added, “In cases where people are caring for family members but do not have the necessary qualifications and thus receive no support, it would be beneficial to introduce a program that helps them obtain certification.”

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