Preventing 'Government Recommendations' in the Formation of the National Pension Review Committee
Criticism of Appointing Prosecutor-Origin Experts to the National Pension Fund
The Democratic Party of Korea criticized the Yoon Suk-yeol administration for appointing a former prosecutor as a full-time expert member of the National Pension Fund and stated, "We strongly condemn the attempt to seize control of the National Pension Fund." Along with this, they proposed the so-called 'National Pension Government Intervention Prevention Act,' which aims to prevent government interference in the composition of the National Pension Fund Management Committee's Stewardship Responsibility Expert Committee (SRE Committee) members.
All members of the National Assembly's Health and Welfare Committee from the Democratic Party held a press conference on the 13th, stating, "Recently, the Yoon Suk-yeol administration appointed a former prosecutor as a full-time expert member who will serve as the chairperson of the National Pension Fund's SRE Committee," and criticized, "This individual denies the independence of the pension fund by claiming that the National Pension Service must follow the Ministry of Health and Welfare's instructions. Instead of independence, this person advocates for bureaucratic control by the Ministry of Health and Welfare."
Earlier, on the 24th of last month, the Ministry of Health and Welfare appointed Han Seok-hoon, a former prosecutor and lawyer, as one of the three full-time expert members of the Fund Management Committee for a three-year term. Regarding Han's appointment, they said, "Appointing such a person as a full-time expert member blatantly reveals the administration's intention to seize control of the pension fund," adding, "This individual even made an anachronistic claim regarding the impeachment of former President Park Geun-hye."
They also pointed out the Ministry of Health and Welfare's recent changes to the personnel composition of the National Pension SRE Committee. On the 7th, the Ministry held a Fund Management Committee meeting and proposed reducing the number of non-standing members appointed based on recommendations from subscriber organizations from six to three out of nine SRE Committee members, with the remaining three to be recommended by expert organizations. The Democratic Party stated, "The government plans to reduce the number of members recommended by each organization from three to two and appoint three members recommended by the Ministry of Health and Welfare," adding, "The government is trying to break the balance of power by appointing members."
In this regard, Democratic Party lawmakers on the Health and Welfare Committee proposed the 'Partial Amendment to the National Pension Act' bill on the same morning. The bill stipulates that all SRE Committee members be recommended by subscriber organizations as experts, preventing the government from interfering in the exercise of shareholder rights of the National Pension Fund. Additionally, it mandates that the basis for the composition of the National Pension Fund's expert committee be established by law rather than by enforcement decree.
Choi Hye-young, a Democratic Party lawmaker who is the bill's main proposer, explained during a back briefing after the press conference, "Legally, all nine SRE Committee members will be recommended by subscriber organizations that pay National Pension premiums, not by the government," and added, "We will ensure that the precious pensions of the people are managed firmly and will not be shaken again by the Yoon Suk-yeol administration by passing this bill successfully."
In the afternoon, Democratic Party lawmakers from the Health and Welfare Committee, Kang Eun-mi from the Justice Party, and the Public Pension Strengthening National Action held a forum titled 'Discussion on the Current Status and Issues of the Yoon Government's Pension Fund Deterioration' to discuss current issues related to the National Pension Fund.
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