As South Korea rapidly ages, the national pension fund is expected to be drained by 2055 if no changes are made to its structure. The special parliamentary committee for pension reform is currently reviewing two reform plans. Plan A is about paying more in premiums and receiving a greater pension. It calls for raising the premium rate from the current 9 percent to 13 percent, and the income replacement ratio from 40 percent to 50 percent. Under Plan A, the national pension fund will be depleted

Expectations are mounting for the first-ever official face-to-face meeting between President Yoon Suk Yeol and the Democratic Party of Korea's leader Lee Jae-myung, which could take place as early as this week. The meeting would be a crucial political event that could shed light on how the country’s key agenda items will be prioritized after the April 10 general election. On Friday, Yoon proposed the meeting in a call to Lee. Since then, the two sides have been coordinating the detail

The government said Friday it will let universities decide on the number of medical school freshmen they want to admit next year within a certain range, in an apparent compromise in its standoff with doctors. Prime Minister Han Duck-soo said that universities will be allowed to increase the places between 50 percent and 100 percent of the previously allocated increment. For instance, Gyeongsang National University’s medical college, which was set to admit a total of 200 freshmen next year