Lee Nak-yeon "Labor Law Revision Inappropriate", Meets Large Corporations Saying "Difficult to Delay the Three Economic Laws"

Lee Nak-yeon, leader of the Democratic Party of Korea, is delivering opening remarks at a meeting with the Korea Employers Federation held on the 6th at the Korea Employers Federation in Baekbeom-ro, Mapo-gu, Seoul. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Wondara] Lee Nak-yeon, leader of the Democratic Party of Korea, expressed that Kim Jong-in, emergency committee chairman of the People Power Party, proposing a 'labor law amendment' is "inappropriate." During a meeting with CEOs of large corporations, he made it clear that the processing of the 'Fair Economy 3 Laws (Fair Trade Act and Commercial Act amendments, and the Act on the Supervision of Financial Groups)' cannot be delayed or redirected.

On the morning of the 6th, Lee stated on his Facebook post, "The labor law amendment proposed by the opposition party is inappropriate." He said, "Many workers are being pushed to the brink of survival," and "It painfully reveals that labor stability is extremely fragile."

He added, "At this time, suggesting making layoffs easier and wages more flexible is a message that is too harsh for workers," emphasizing that "now is the time to more strongly embrace socially vulnerable groups, including workers."

Lee Nak-yeon, leader of the Democratic Party of Korea, and Sohn Kyung-shik, chairman of the Korea Employers Federation, attended the Democratic Party-Korea Employers Federation meeting held on the 6th at the Korea Employers Federation in Baekbeom-ro, Mapo-gu, Seoul, and posed for a photo before the meeting began. Photo by Yoon Dong-ju doso7@

At the meeting with CEOs of large corporations held at the Korea Employers Federation in Mapo-gu, Seoul, he said, "I want to make it clear that the Fair Economy 3 Laws are intended to enhance the healthiness of our companies, not to cause trouble for them."

He continued, "We will listen to the concerns of the business community and cooperate where possible, and if there are parts that need to be supplemented, we will do so," but emphasized, "However, I want to say that it is difficult to delay or change the direction of these laws."

Right after the meeting, Lee said on Facebook, "We will arrange a separate meeting to discuss specifically with related sectors, including the business community," and "Even if partial supplements are made, we intend to maintain the overall direction and process the laws within the regular parliamentary session."

Meanwhile, Chairman Kim said at the party's emergency committee meeting the previous day, "As we approach this regular parliamentary session, the government is proposing the Fair Economy 3 Laws," and "The government and ruling party should take this opportunity not only to improve the Fair Economy 3 Laws but also labor-management relations and labor laws."

He explained, "According to the OECD, among 141 countries worldwide, South Korea ranks 102nd in employment and dismissal issues, 130th in labor-management relations, and 84th in wage flexibility, showing very backward trends," and "After the COVID-19 crisis, to fundamentally change the economic structure and all social systems, it is difficult without changing labor relations laws."

On the same day, Joo Ho-young, floor leader of the People Power Party, appeared on MBC radio and responded to the question, "Is it inevitable that labor relations laws and the Fair Economy 3 Laws be processed together in one shot?" by saying, "That is the most desirable."

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