Democratic Party's Jin Sung-jun "Considering Solo Passage of Pension Base Reform Bill by Opposition"

Ruling and Opposition Parties Clash Over Formation of Pension Special Committee
Concerns Rise Over Stalled Negotiations on Pension Reform

Jin Seong-jun, the Policy Committee Chairman of the Democratic Party of Korea, said on the 18th regarding the National Pension parameter reform plan, "Based on the bipartisan agreement, we cannot help but actively consider the Democratic Party processing it unilaterally."

Jinseongjun, Policy Committee Chair of the Democratic Party of Korea, and Kang Seonwoo, Secretary of the Health and Welfare Committee, are explaining the progress of the special committee on pension reform, including the ruling and opposition parties' discussions, through a back briefing at the National Assembly on the 18th. 2025.3.18 Photo by Kim Hyunmin

Chairman Jin stated at a briefing on pension reform held at the National Assembly in the afternoon, "I am worried whether the ruling and opposition parties can implement the agreement to submit and process the pension reform bill at the plenary session on the 20th."

Jin, the Policy Committee Chairman, explained, "At this morning's National Policy Council meeting, it was also decided that the Health and Welfare Committee would discuss the parameter reform legislation for pension reform, and depending on the situation, discuss whether to add agreed processing by the Pension Reform Special Committee as an operational principle," adding, "In fact, this means that if a smooth agreement is reached on the details of the pension parameter reform, the agreed processing by the Pension Reform Special Committee can also be handled together."

He pointed out, "However, the People Power Party's afternoon briefing seemed to overturn the agreement made at the morning National Policy Council meeting."

Earlier, the floor leaders of both parties reaffirmed their principled agreement on the National Pension parameter reform plan of '13% contribution rate and 43% income replacement rate' at a meeting chaired by Speaker Woo Won-shik in the morning, and agreed to discuss expanding childbirth and military service credits and increasing support for low-income groups at the National Assembly's Health and Welfare Committee.

However, in the afternoon, the People Power Party made the formation of the Pension Special Committee with the phrase 'bipartisan agreed processing' a precondition for parameter reform, causing negotiations to stall.

Regarding this, Chairman Jin said, "Although there is agreement on the major parameters such as the increase in contribution rate and income replacement rate, there is still insufficient time to discuss issues where differences remain between the government and the National Assembly, such as expanding childbirth and military service credits and increasing insurance premium support for low-income subscribers," adding, "We had agreed to actively consider agreed processing by the National Assembly Pension Special Committee if differences were narrowed, but since the People Power Party has reversed this, I doubt whether they have the will for pension reform."