The Democratic Party of Korea is considering handling the National Pension reform on its own. This comes as the People Power Party insisted on the phrase 'bipartisan agreement' as a prerequisite for forming a special committee on pensions after the national policy council, leading the Democratic Party to judge that there is no willingness for pension reform.
Jin Seong-jun, chair of the Democratic Party's Policy Committee, held a press conference on the 18th at the National Assembly and noted, "If the pension reform is stalled, I had said that the Democratic Party could handle it alone based on an agreement, but now it has become a situation where we cannot help but actively consider it."
The Democratic Party raised concerns over a briefing held that afternoon by Kim Sang-hoon, chair of the People Power Party's Policy Committee, and Kim Mi-ae, the ruling party's secretary in the National Assembly's Health and Welfare Committee. During the briefing, Kim noted, "Today, we have not been able to finalize discussions regarding the pension-related parts," adding, "The reform of the pension formula is indeed something that the secretaries from both parties in the welfare committee agreed to discuss and handle, but it is our stance that a structure based on a mutual agreement must be established first."
Jin stated, "During the national policy council meeting that morning, we agreed to discuss the pension reform in the Health and Welfare Committee and, depending on the situation, to discuss whether to add 'bipartisan handling' as a principle for operating the special pension committee," adding, "However, the People Power Party expressed an opposing position in the morning meeting."
Jin further stated, "If the details of the pension formula reform are amicably agreed upon, it means that we can also handle the phrase of bipartisan agreement for the pension special committee, and both parties as well as the chair's office shared this understanding," emphasizing, "Now that this has been overturned abruptly, I am doubtful whether there is any willingness for pension reform." He continued, "The People Power Party's afternoon briefing has directly conflicted with the common understanding and agreement between the parties and reiterated it."
The Democratic Party plans to address the pension formula reform bill during the special session of the National Assembly in March. There is a possibility that Choi Sang-mok, the acting Prime Minister and Minister of Economy and Finance, may exercise the right of request for reconsideration (veto), but the Democratic Party maintains that it cannot exclude the 'principle of majority' during the legislative process.
Jin stated, "The bipartisan agreement serves as a justification for the Yoon government's rejection of all legal proposals," adding, "Moreover, the pension special committee is chaired by the People Power Party, and with the seat distribution being 6 to 6 to 1, it is impossible to proceed without mutual agreement between the parties." He emphasized, "Making the bipartisan agreement a prerequisite for the pension formula reform negotiations is simply making excuses."
He also mentioned, "I am not unwilling to include the (bipartisan agreement) clause," but noted, "In the meantime, the People Power Party has pointed out the absence of a bipartisan agreement as grounds for proposing vetoes, and the President and acting officials have exercised vetoes more than 30 times. Asking to include it in the pension special committee is meant to provide a justification for exercising a veto."