Choo Kyung-ho, floor leader of People's Power, says ”The formation of a ruling-opposition government consultation body for pension reform should be made a top priority in the 22nd National Assembly” (Korea)

Choo Kyung-ho, floor leader of the ruling People Power Party, proposed to the Democratic Party that national pension reform be carried out after gaining public sympathy in the first regular National Assembly of the 22nd term.
On the 26th, House of Representatives Leader Aki held a press conference at the National Assembly and stated, "Rather than half-hearted reforms due to political infighting and time pressure, we will make this our top priority in the first regular Diet session of the 22nd term."
The Democratic Party of Korea proposed to prioritize the reform of the base rate, which includes a 13% insurance premium rate and a 44% income replacement rate, in the 21st National Assembly, whose term ends on the 29th.
He counter-proposed that the reform should be promoted as a top priority issue in the first regular Diet session of the 22nd term, including the reform of the capital. Furthermore, a ruling party consultative body was established to discuss both the reform of the capital and the structural reform, and the activities of which ended in the 21st Diet session.
He emphasized that the National Assembly's Special Pension Committee will be reconstituted in the 22nd National Assembly, and that "we must come up with a reform plan that gains the sympathy of the people, including young people and future generations."
"The Democratic Party of Korea, which had been dragging its feet on pension reform for some time, suddenly decided to do so three days before the end of the 21st National Assembly term," said Aki.
"They are saying, 'Let's push ahead with pension reforms that we couldn't agree on,'" he said. "What we can't agree on now is not simply a numerical issue of 1 percentage point (income replacement rate).
It is difficult to separate structural reform issues such as linking the basic pension system and the basic pension system." Kim Jin-pyo, speaker of the Democratic Party of Korea, said, "We will first implement the basic pension reform in the 21st National Assembly and then in the 22nd National Assembly.
Regarding the proposal to "put structural reforms on hold," he responded negatively, saying, "Is this a credible proposal? Once the hastily fabricated numerical adjustments are completed, the momentum for pension reform will weaken."