As South Korea grapples with demographic challenges, the sustainability of its national pension system has become a pressing concern. Professor Emeritus (Konkuk University) and ICePP Visiting Scholar Wonshik Kim offers valuable insights on this critical issue in Munhwa Ilbo, a major South Korean newspaper. With the government poised to announce a highly anticipated pension reform plan, Kim emphasizes the importance of intergenerational equity and pension sustainability.
He outlines five key principles for effective reform: the need for a thorough reflection on the pain points of national pension reform, strong government leadership, consideration of a savings-type pension fund, improvements to the national pension credit system, and prudent planning to lower insurance premiums for young people.
Read the full article (in Korean) here.
