The Standing Committee on Finance and Economy Full Meeting Passes the 'Public Institution Labor Director System'
[Asia Economy Reporter Kiho Sung] The National Assembly's Planning and Finance Committee held a plenary session on the 5th to process the "Amendment to the Act on the Management of Public Institutions."
This bill includes provisions requiring public enterprises and quasi-governmental agencies to appoint one non-executive director to the board who is recommended or agreed upon by worker representatives to ensure management transparency.
The qualifications for the labor director are employees who have worked for more than three years, with a term of two years, renewable annually. The enforcement date is six months after the promulgation.
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This bill is expected to go through the Legislation and Judiciary Committee and be approved at the plenary session of the National Assembly on the 11th.
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