President Yoon Suk Yeol will give a press conference Thursday to announce a set of major reform measures in the pension, health care, education and labor sectors, his office said.

Yoon will first explain the comprehensive reform plan and take questions from reporters on a range of issues, according to the office.

A major focus will be the long-overdue pension reform, as South Korea faces the challenge of its pension fund depleting faster than anticipated due to an aging population and declining birth rate.

Yoon is also expected to outline strategies to battle the nation’s record-low birth rate.

Source: Yonhap News Agency