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'Pension System Needed in Preparation for NK Collapse'

Written: 2010-10-11 14:00:11Updated: 2010-10-11 15:29:41

'Pension System Needed in Preparation for NK Collapse'

A ruling Grand National Party (GNP) lawmaker has proposed that the government devise pension policies aimed at preparing for the collapse of the North Korean government.

Gong Sung-jin made the call on Monday during the parliamentary inquiry on the National Pension Service. Gong said that Germany was burdened by the equivalent of some one-point-seven trillion won after having provided people in East Germany with excessively generous pensions at the time of unification.

Gong said the economic gap between the two Koreas is bigger than the gap East and West Germany had at the time they united.

He said South Korean society will witness serious chaos if Seoul has no measures in place to protect the livelihood of the North Korean people in the event an emergency arises in the North.

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