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, ‘With just 3 weeks left until the end of the 21st National Assembly’s term, lawmakers from both ruling and opposition parties who were planning a trip to Europe have canceled their travel plans as final negotiations on pension reform fell through.’,
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, ‘Chairman Joo Ho-young of the National Assembly’s Special Committee on Pension Reform, along with ruling party floor leader Yoo Kyeong-joon and opposition party floor leader Kim Sung-joo, held a press conference and announced, “We tried our best to reach an agreement but the current situation makes it impossible. We are practically facing the end of the 21st Assembly’s activities.”‘,
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, ‘As a result, lawmakers from both sides canceled their overseas trip, which was scheduled for 5 nights and 7 days to visit pension systems in countries such as the UK and Sweden.’,
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, ‘While both ruling and opposition parties agreed on a contribution rate of 13%, they could not reconcile their differences regarding income replacement rates. The Democratic Party advocated for a 45% income replacement rate for income security, while the People Power Party insisted on a 43% income replacement rate for fiscal stability.’,
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, ‘Chairman Joo stated, “Legislation became difficult due to a 2% difference in income replacement rate. I hope that based on these discussions, swift pension reform will be achieved in the 22nd National Assembly through consensus-building between the ruling and opposition parties.”‘,
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