IBK Industrial Bank, YouTube Live Briefing on Labor Standards on the 26th
Co-hosted by IBK, Ministry of Employment and Labor, and Korea Federation of SMEs...
Key Legal and Labor Management Guidelines on the 52-Hour Workweek System
[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank of Korea announced on the 24th that it will hold an online briefing session on the key provisions of working hours under the Labor Standards Act and essential labor management matters for employees of small and medium-sized enterprises (SMEs), in collaboration with the Ministry of Employment and Labor and the Korea Federation of SMEs.
This briefing session is organized to inform about the purpose and key contents ahead of the implementation of supplementary legislation for the 52-hour workweek system, including the flexible working hours system and the selective working hours system, scheduled for April 6. The online briefing will be held via YouTube Live broadcast from 2 p.m. on the 26th for about one hour.
South Korea is one of the OECD member countries with the longest working hours. To improve the long working hours culture, the 52-hour workweek system was introduced in March 2018 and has been gradually expanded according to company size. In particular, in December last year, supplementary legislation aimed at supporting the establishment of the 52-hour workweek system in the field passed the National Assembly and is about to be implemented. The legislation includes ▲ the introduction of a flexible working hours system with 3 to 6-month units ▲ extension of the settlement period for the selective working hours system in research and development fields of new products and new technologies (from 1 to 3 months) ▲ and special extended working hours health protection measures.
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This briefing session will accurately guide these changes related to working hours systems and also provide essential labor management information that companies need to know. A representative from IBK Industrial Bank of Korea said, “Since 2013, we have conducted about 640 labor consulting cases for our clients,” and added, “We will provide practical help to SMEs through case-centered lectures by experienced labor attorneys.”
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