South Korea's Pension Fund Reform: A Path to Equitable Future

South Korean President Yoon Suk Yeol has called for reforms to the nation's pension fund to make it more equitable and to ensure income security for the country's ageing population. The proposed changes aim to address generational disparities and enhance financial stability for senior citizens.

South Korean President Yoon Suk Yeol on Thursday highlighted the urgent need for reforming the country's national pension fund. The President emphasized that the existing system must be overhauled to ensure fairness across different generations.

Yoon pointed out that the current pension structure may not be sustainable in the long run, particularly given the growing number of elderly citizens and the declining birth rate. He stressed that immediate action is required to secure financial stability for the ageing population.

The proposed reforms aim to address various generational disparities and establish a more equitable income security framework for future senior citizens in South Korea.

(With inputs from agencies.)