Kim Yong-beom "Discussion on Labor Law Reform... Voices for a 'Basic Law for Working People'"

Kim Yong-beom, the 1st Vice Minister of Strategy and Finance, is speaking at the 'Macroeconomic Financial Meeting' held at the Bankers Hall in Jung-gu, Seoul on the 8th. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Kim Bo-kyung] Kim Yong-beom, the 1st Vice Minister of the Ministry of Economy and Finance, predicted, "This year will be a year in which discussions on labor law improvements rapidly evolve in line with the times."

On the 2nd, Vice Minister Kim said on Facebook, "With the advancement of the digital revolution and the emergence of the 'Gig Economy' (an economic form employing short-term contracts), working methods are becoming increasingly diverse, and the boundaries between labor, companies, and markets have become blurred."

He added, "The 'National Employment Insurance Roadmap' was announced recently," and explained, "A plan has been prepared to gradually incorporate the incomes of those with characteristics different from standard labor contracts, such as workers in special types of employment (teukso hyeong geunro jongsaja, teukgo), into the employment insurance framework."

He continued, "Teukgo, freelancers, platform workers, and self-employed individuals differ from typical employees who have long-term and dependent labor contracts with companies," and explained, "Most have no employing company or user, and their employment contracts are mostly short-term or one-time with significant autonomy over time and space."

Vice Minister Kim stated, "The next task is to provide appropriate protective measures for atypical workers who have been excluded from the scope of existing labor laws."

He mentioned protective measures for atypical workers, saying, "There is an approach to base it on the Labor Standards Act while individually enacting laws tailored to the characteristics of each sector," and added, "Furthermore, there are voices calling for the enactment of a 'Basic Act for Working People.'"

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