Yoon: "Best Efforts to Achieve National Consensus on Pension Reform Without Political Calculations" (Update)

President Yoon's Opening Remarks at the Cabinet Meeting
Criticism of the National Pension Comprehensive Operation Plan as a 'Weak Reform Plan'
"This is not an issue that can be concluded by presenting numbers alone"
Active Participation in Preparing and Promoting Public Discussion on National Assembly Reform Measures
Also Urges the National Assembly to Pass Legislation on Livelihood Bills

President Yoon Suk-yeol stated on the 30th, "I will do my best to achieve a national consensus on pension reform without calculating political gains or losses."

At the Cabinet meeting held at the Yongsan Presidential Office that morning, President Yoon said, "Unlike past administrations, the executive branch has promised to thoroughly prepare and actively engage by providing scientific evidence, conducting public opinion surveys, and presenting options to ensure a bipartisan agreement on pension reform can be reached." On the 27th, the Ministry of Health and Welfare announced the '5th Comprehensive National Pension Operation Plan' at the National Pension Deliberation Committee. Since the reform plan excluded specific figures related to key issues of the National Pension reform (parameter reform) such as contribution rates, income replacement rates, and pension payment timing, it was criticized as a 'watered-down reform plan.'

Regarding such criticism, President Yoon dismissed it by saying, "However, pension reform is not an issue that can be concluded by simply presenting numbers without supporting evidence or social consensus." He added, "The previous government submitted four alternatives without a firm commitment to pension reform, which only caused conflicts," and countered, "Our government has been preparing diligently to achieve proper pension reform without repeating such cases."

President Yoon introduced the government's efforts, including over 80 meetings with pension experts to accumulate scientific evidence such as fiscal projections and actuarial verification, 24 in-depth interviews by social class, and public opinion surveys for general citizens. He explained, "Even though it is difficult and challenging, we aim to keep the promises made to the people through social consensus. This will serve as abundant data for discussions on structural reform of the entire pension system, including the National Pension." He particularly emphasized, "Since pension reform is completed through legal amendments, the government will actively participate in and support the National Assembly's process of preparing reform measures and promoting public discourse."

[Image source=Yonhap News]

President Yoon also referred to the visit of Crown Prince and Prime Minister Mohammed bin Salman Al Saud of Saudi Arabia in November last year, his state visit to the United Arab Emirates (UAE) in January this year, and last week's tours of Saudi Arabia and Qatar, stating, "A massive playground worth 107 trillion won has been created in the Middle East region," and expressed expectations that "such large-scale exports and orders will invigorate the economy and people's livelihoods by creating quality jobs."

President Yoon further stressed, "We must align laws and systems with global standards," adding, "That is exactly what creates jobs and enriches people's livelihoods." In this regard, he compared the increase in the number of employed persons during the five years of the Moon Jae-in administration (213,000) and emphasized, "Now, one year and six months after the government took office, the employment rate, calculated by dividing the actual number of employed persons by the total population aged 15 and over, stands at 62.6%, the highest compared to any previous administration."

He also shared that during last week's tours of Saudi Arabia and Qatar, presidential office aides visited 36 sites related to small business workplaces and welfare administration, among other livelihood sites. After conveying the difficulties faced by small business owners related to high interest rates, wages, and the Serious Accidents Punishment Act, which the aides heard at the livelihood sites, President Yoon said, "There is nothing more urgent than promptly responding to the cries for help from the people waiting for assistance right before our eyes and the desperate pleas from the field," and stressed, "I will delve deeper into the livelihood sites than now and do my best to swiftly resolve the cries from the field that the Presidential Office has directly heard."

He also urged the National Assembly to pass legislation including the National Finance Act to introduce fiscal rules for sound finances, the Subsidy Management Act to prevent accounting fraud, the Korea Development Bank Act for regional balanced development, the Space and Aviation Agency Act for future industrial strategies, as well as amendments to the Act on the Aggravated Punishment of Specific Economic Crimes and the Win-Win Cooperation Act.