Deputy Prime Minister and Acting President Choi Sang-mok, who also serves as the Minister of Strategy and Finance, expressed hope for a significant agreement between the ruling and opposition parties to develop a sustainable pension reform plan. He stated, “We anticipate meaningful results soon regarding the urgent passage of critical livelihood and economic bills such as the Semiconductor Special Act, Tax Exception Limitation Act, and the Reconstruction and Redevelopment Promotion Act, along with additional fiscal input.”
At a Cabinet meeting held at the Seoul government complex on the 25th, Acting President Choi highlighted that the government and the political circles from both ruling and opposition parties agreed to cooperate in overcoming economic crises and livelihood issues during a ‘National Council and Government Consultation Meeting’ held last week.
He emphasized the hope that this time, a sustainable pension reform plan will be developed through a grand agreement between the ruling and opposition parties.
Previously, representatives from the ruling party, opposition party, and government held a ‘four-party meeting’ on the 20th during the National Council Consultation but failed to find a concrete agreement on key issues such as the supplementary budget (extra budget), the exception to the 52-hour workweek in the Semiconductor Special Act, and pension reform.
However, there was a consensus on the necessity of drafting a supplementary budget, and it was agreed to continue discussions through working-level meetings. Additionally, further discussions on the Semiconductor Act and pension reform will also take place at the working level.