Explaining the Background Behind Proposing a Negotiation Plan Despite Internal Opposition
Kwon Seong-dong, floor leader of the People Power Party, raised the opposition party's responsibility regarding the collapse of the National Pension agreement between the ruling and opposition parties. Kwon reiterated the ruling party's willingness to negotiate and urged the opposition to change its stance.
At the People Power Party floor strategy meeting held at the National Assembly on the 11th, Kwon stated, "Even now, if the Democratic Party prioritizes the livelihood and economy and the future generations, although insufficient, we hope they accept the conditions we proposed and form a pension special committee to discuss a multi-layered pension system including an automatic stabilizer within a one-year deadline."
He expressed regret while introducing the pension-related negotiation situation at the state affairs consultation meeting the previous day. He mentioned that instead of Choi Sang-mok, the acting Prime Minister and Minister of Economy and Finance, who is not recognized as a dialogue partner by the opposition due to the appointment issue of Constitutional Court Justice Ma Eun-hyuk, the second vice minister of the Ministry of Economy and Finance participated in the working-level meetings. He also introduced the process of proposing a pension income replacement rate of 43% despite opposition within the party.
Kwon Seong-dong, floor leader of the People Power Party, is speaking at the floor strategy meeting held at the National Assembly on the 11th. March 11, 2025 Photo by Kim Hyun-min
Kwon said, "Although we proposed an income replacement rate of 43%, most members of the pension special committee, including Park Soo-young, the chairman of the pension special committee, opposed accepting 43% without the introduction of an automatic stabilizer." He added, "We are a minority party and in a desperate situation where not a single law can pass without the Democratic Party's consent. Still, we pleaded to lower the insurance rate only by 0.5%, believing that raising it from 9% to 13% would help the sustainability of pension finances and benefit the country and its people. I, as the floor leader, am prepared to take all criticism and blame."
He continued, "I thought this part would be settled yesterday, but all discussions fell apart because the Democratic Party still insisted on 44%. The Speaker's mediation proposal was 43.5%, and I begged them to lower it by just 0.5%, explaining that a 1% difference in the income replacement rate would result in nearly 300 trillion won difference later, but the Democratic Party refused," expressing regret.
Kwon urged a change in stance regarding the failure of the ruling and opposition parties to achieve results through state affairs consultations. He criticized, "Yesterday, the Democratic Party merely filled the seats formally and abandoned the people's livelihood for political reasons. They did not hesitate to hold overnight sit-ins and outdoor rallies to create a fear of civil war, while only dedicating 30 minutes to the state affairs consultation."
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