Lee Jae-myung "Willing to Hold Summit Meeting on Pension Reform"
Pension Reform Plan Faces Collapse by 1% Margin
Yoo Kyung-joon, the ruling party secretary of the National Assembly's Special Committee on Pension Reform, accused the Democratic Party of Korea and its leader Lee Jae-myung of lying about pension reform.
On the 23rd, Yoo said on his Facebook, "Leader Lee is telling lies again while talking about pension reform," adding, "It's outrageous that the Democratic Party's proposal is being disguised as the Yoon Seok-yeol government's plan." This was in response to Lee's statement that he would accept the ruling party's pension reform proposal and urged the passage of the pension reform bill at the plenary session on the 28th.
Earlier, Lee said on his Facebook, "The Democratic Party has made a decision to lower the income replacement rate from the originally proposed 50% to 45% for the prompt passage of the reform bill," adding, "The plan with a 13% contribution rate and a 45% income replacement rate was also proposed by the Yoon Seok-yeol government." He further stated, "If the government and ruling party make a decision, the pension reform bill can be passed at the plenary session on the 28th. Additionally, I am willing to hold a summit meeting with the president regarding this issue."
In response, Yoo emphasized, "The plan with a 13% contribution rate and a 45% income replacement rate was proposed by the Democratic Party, not the Yoon Seok-yeol government," adding, "Pension reform is being delayed because of such lies." He continued, "I will no longer fall for the Democratic Party's intention to pass their proposal through lies and wordplay."
With less than a week left in the 21st National Assembly, the ruling and opposition parties are at odds over the pension reform bill. The People Power Party initially advocated for a 13% contribution rate and a 43% income replacement rate but has expressed willingness to concede up to 44% for the income replacement rate. However, the Democratic Party insists on a 45% income replacement rate, putting pension reform at risk of collapse over a mere 1 percentage point difference.
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