[Yoon Press Conference] "Pension Reform to Be Finalized Within Term... Government Mobilizes All Efforts Against Inflation"

Pension Reform to Be Thoroughly Discussed in the 22nd National Assembly
Broad Public Deliberation to Lead Social Consensus
Government Mobilizes Full Capacity to Stabilize Grocery Prices

President Yoon Suk-yeol is holding the '2nd Year Public Report and Press Conference of the Yoon Suk-yeol Administration' on the morning of the 9th at the briefing room of the Yongsan Presidential Office building in Seoul. [Image source=Yonhap News]

President Yoon Suk-yeol emphasized on the 9th regarding the pension reform issue, "We will pass it on to the 22nd National Assembly for more thorough discussion," adding, "However, I will actively cooperate to ensure it is finalized within my term."

President Yoon stated this during the 'Yoon Suk-yeol Government 2-Year National Report and Press Conference' held at the Yongsan Presidential Office that morning, saying, "I am thinking that we need to communicate with the National Assembly and lead social consensus within my term."

He pointed out, "Previous administrations neglected the pension reform issue," and explained, "Every year by the end of October, a report related to pension reform is supposed to be submitted to the National Assembly, but only simple formal reports were submitted, and there was almost no discussion in the Assembly, bringing us to a situation where it can no longer be postponed."

He continued, "During the last presidential election, I promised that if I took office, I would submit sufficient materials for the National Assembly to simply choose from within my term, and I made such a pledge," adding, "And I fulfilled that pledge at the end of October last year."

He emphasized, "We submitted to the National Assembly nearly 6,000 pages of extensive materials, including not only mathematical statistics but also the most important future population projections for pension estimates, various mathematical statistical data by experts, and broad public opinion surveys and in-depth FGIs (Focus Group Interviews)."

President Yoon explained, "However, with the 21st National Assembly nearing its end, rather than rushing now, it is appropriate to pass it on to the 22nd National Assembly for more thorough discussion," adding, "Many citizens have developed deep interest in the pension issue, and it is right to lead social consensus through a broad public discourse process."

Before the press conference, President Yoon reiterated that the basic pension payment level would be raised to 400,000 won within his term.

He added, "In the era of ten million elderly citizens, we will take more meticulous care of the elderly's lives," and said, "While expanding jobs for the elderly, we will strengthen the nursing and care system to enable a vibrant and comfortable life for seniors."

Meanwhile, regarding the great suffering of citizens due to high prices, President Yoon said, "We will mobilize all means to curb grocery prices and dining-out prices with the full capacity of the government."

He stated, "Core inflation has been managed within 2.5%, but so-called grocery prices and dining-out prices felt at restaurants have not been well controlled," adding, "Grocery prices for agricultural and marine products can be controlled by providing discounts with just a few hundred billion won without spending large amounts, and by properly operating tariff quotas on imports."

He emphasized, "Currently, all economic departments are thoroughly managing grocery prices," and said, "We are investigating global routes and markets to lower import costs and diversify import sources to secure cheaper ingredients and food products."