Labor, Management, and Government Representatives Meet Again... Will a Dramatic Agreement Emerge?

Prime Minister Jeong Chairs 2nd Plenary Session Today... Persistent Differences Despite 7 Working-Level Talks

Prime Minister Chung Sye-kyun is delivering opening remarks at the tripartite social dialogue to overcome the COVID-19 crisis, held on the 20th of last month at the Prime Minister's official residence in Jongno-gu, Seoul.

[Asia Economy Reporter Kwangho Lee] A tripartite meeting of labor, management, and government representatives to overcome the novel coronavirus infection (COVID-19) crisis will be held on the afternoon of the 18th, presided over by Prime Minister Chung Sye-kyun.

Prime Minister Chung is scheduled to chair the second plenary session at Samcheongdang, the Prime Minister's official residence in Seoul, in the afternoon. It has been about a month since the tripartite representatives met on the 20th of last month. After the first meeting, labor, management, and government proposed agendas and coordinated differences through seven rounds of working-level consultations. On the 16th, a higher-level vice-chairman meeting was held to seek common ground, but it is reported that the differences in positions were not narrowed. Accordingly, attention is focused on whether the tripartite will achieve a dramatic grand compromise at this meeting.

Attending the meeting are Prime Minister Chung, Kim Myung-hwan, Chairman of the Korean Confederation of Trade Unions (KCTU), Kim Dong-myung, Chairman of the Federation of Korean Trade Unions (FKTU), Sohn Kyung-shik, Chairman of the Korea Employers Federation (KEF), Park Yong-man, Chairman of the Korea Chamber of Commerce and Industry (KCCI), Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, and Lee Jae-gap, Minister of Employment and Labor. Moon Sung-hyun, Chairman of the Economic, Social and Labor Council, and Kim Yong-gi, Vice Chairman of the Presidential Committee on Jobs, will also be present.

Representatives from various sectors are expected to seek common ground between labor and management to overcome the employment crisis triggered by COVID-19. The labor side insists on expanding the employment safety net, including employment guarantees and the introduction of a nationwide employment insurance system, while the business sector reportedly demands wage, working hours, and employment flexibility.

Prime Minister Chung is expected to repeatedly emphasize the urgency of overcoming the COVID-19 crisis and urge concessions from both labor and management sides at the second plenary session.

Although the differences between labor and management are significant, the tripartite parties agree on the need for a prompt social grand compromise. The tripartite parties will continue working-level consultations to coordinate positions even after the second plenary session.

A government official said, "We will strive to find common ground as soon as possible through intensive and concrete discussions," adding, "We hope to conclude it preferably by June or July."

In this regard, Kim Dong-myung, Chairman of the FKTU, emphasized at the FKTU sectoral representatives meeting the day before, "Considering the urgent situation where the employment crisis is deepening due to COVID-19 and the timing of the National Assembly's deliberation on the third supplementary budget, a one-point social dialogue must be concluded within this month."

On the same day, Kim Myung-hwan, Chairman of the KCTU, met with Kim Tae-nyeon, floor leader of the Democratic Party of Korea, and argued, "The government should issue an emergency financial order to ban layoffs to prioritize the protection of vulnerable workers." In response, Floor Leader Kim said, "For a social grand compromise, the KCTU must also consider what to offer and work together. In that sense, I want to lay the foundation for creating a social grand compromise."

The gathering of tripartite parties, including the two major trade unions, to overcome a national crisis is the first in 22 years since the launch of the Tripartite Commission during the International Monetary Fund (IMF) foreign exchange crisis in 1998.

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