Deputy Prime Minister and Minister of Economy and Finance Lee Hyoung-il said on Wednesday, "The ultimate goal of growth is to improve the lives of citizens. We will concentrate government-wide efforts on alleviating polarization among industries, regions, and generations that arises during rapid growth processes such as AI translation."
At the Joint Meeting of Economic Ministers and Science, Technology and Innovation Ministers held at the Government Seoul Complex, Lee said, "We are rapidly approaching mid-3 percent growth this year and achieving a per capita national income of $40,000."
He stated, "We will discuss three core social policies—housing, employment, and finance for low-income earners—that have the greatest impact on citizens' lives among the tasks to alleviate polarization," adding, "Inter-ministerial task forces for each task are currently in full operation. Through today's discussion, we will actively identify policies that allow citizens to feel tangible changes and swiftly concretize them."
At the meeting on the 28th, topics discussed included "Measures to Strengthen the Function of Retirement Pensions" and "Promotion Direction and Inter-ministerial Collaboration Plan for the Seven Major SEED (Seed) Projects."
Regarding measures to strengthen the function of retirement pensions, Vice Prime Minister Lee said, "After a preparation period next year, we will gradually mandate off-site accumulation of retirement benefits starting with workplaces employing 100 or more people in 2028 to prevent unpaid severance pay," adding, "While improving returns through professional asset management, we will ensure the protection of workers' benefit rights by stipulating strict fiduciary responsibilities."
He explained, "In particular, the Ministry of Employment and Labor and financial authorities, as competent ministries, will collaborate on licensing, management, and supervision to seek stable operation," adding, "We are also promoting institutional improvements to enhance returns, such as restructuring employer evaluations centered on pension nature and return rates, and advancing the application timing of default options."
Regarding the Seven Major Seed Projects, he stated, "We will concretize promotion systems and implementation strategies by field within this year, and begin full-scale investment, verification, and commercialization starting next year."
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