Why Has the National Pension Become the Exchange Rate's 'Problem Solver'?
- #국민연금법
The Pension Future Forum convened its 9th seminar in the afternoon near Jung-gu, Seoul, and issued an emergency statement declaring that "the National Pension Fund must not be squandered as pocket money for defending the exchange rate."
The Forum continued, stating that "the fundamental cause of the current surge in the exchange rate is largely attributable to a decline in relative value resulting from an excessively expanded money supply," and that "the notion that an internal ailment — which has erupted as the external skin ailment of a collapsing exchange rate — can be cured by applying the ointment of the National Pension Fund must be abandoned immediately."
The Forum further emphasized that "if the government or the state regards the National Pension Fund — which constitutes old-age income for the citizenry and represents the individual property rights of each citizen — as pocket money to be spent at will, it will face fierce resistance from Korea's younger generation, future generations, and the public at large."
