President Yoon Suk Yeol reiterated his commitment Friday to increasing the monthly basic pension benefit for the senior population during his term. Yoon made the pledge during a ceremony marking Parents' Day, celebrated on May 8 every year. It was the first time a sitting president attended the annual event. One of the Yoon government's policy goals is to increase the monthly basic pension benefit for senior citizens from slightly over 320,000 won to 400,000 won (US$292). The benefit is provided to individuals aged 65 and older who belong to the bottom 70 percent of the income distribution. "The infinite sacrifices of the parents generation continue to this day, and as our society rapidly develops, I often think whether we are forgetting to appreciate them," Yoon said. Yoon also reiterated the government's commitment to improving the later years of the senior population by creating more job opportunities and increasing their wages. Yoon promised to expand care services for seniors, including alleviating the financial burden of nursing fees. During the event, he personally pinned carnations on three senior participants, a gesture commonly used in South Korea to express gratitude and love for parents. The event was attended by approximately 1,300 seniors, as well as a number of government officials, including Health Minister Cho Kyoo-hong. Source: Yonhap News Agency