"Job Retention and Income Support" Lee Jae-gap Shares COVID-19 Response Policies with G20 Ministers

Minister Lee Jae-gap of the Ministry of Employment and Labor. / Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Bo-kyung] Lee Jae-gap, Minister of Employment and Labor, shared the government's employment policies in response to the novel coronavirus disease (COVID-19) with ministers from the Group of Twenty (G20).

On the afternoon of the 23rd, Minister Lee held a special video conference with G20 employment and labor ministers to discuss the impact of COVID-19 on the labor market and to exchange policy response cases from each country. This special video conference was held at the proposal of Saudi Arabia, the G20 chair country this year.

Minister Lee explained the domestic employment and labor policy directions to minimize the negative impact of COVID-19 on the labor market in three main ways.

First, as employment stabilization policies to maintain jobs, he introduced measures such as ▲increasing the support level of employment retention subsidies ▲wage subsidies for small businesses ▲reductions and deferrals of social insurance premiums.

Additionally, as support measures to compensate for workers' income reduction, he introduced ▲support for unemployment benefits and job-seeking promotion allowances for low-income groups ▲vocational training and reemployment support for the unemployed (Employment Success Package) ▲living stabilization subsidies for vulnerable groups such as workers in special employment types and freelancers.

To prevent the spread of COVID-19 infections within workplaces, he proposed ▲encouraging flexible work arrangements and providing quarantine support ▲emergency support for family care expenses.

Minister Lee emphasized, "It is necessary to expand the social safety net to support the most vulnerable groups severely affected by COVID-19, and social dialogue is important to effectively overcome the crisis."

He added, "We will actively share South Korea's experience in responding to employment and labor policies with the international community."

On this day, member countries adopted the G20 Employment and Labor Ministers' Joint Declaration, which calls for strengthening employment policies and social security systems in response to the impact of COVID-19 and promoting international cooperation.

The official G20 Employment and Labor Ministers' Meeting this year is scheduled to be held in Riyadh, Saudi Arabia, from September 9 to 10.

This content was produced with the assistance of AI translation services.