Senior Party and Government Officials "Labor Reform Must Be Strongly Promoted... Also Urge Swift Budget Approval"

Handuksoo "Unreasonable labor-management practices and rigid working hours reduce productivity"
Kim Daegi "Labor reform essential to revitalize private investment"
Jung Jinseok "Labor market flexibility must be increased and labor-management cooperation enhanced"
Joo Hoyoung "Social safety net expansion needed for labor reform"

[Image source=Yonhap News]

[Asia Economy Reporter Naju-seok] At the high-level ruling party-government council, voices were raised that next year's budget bill must be promptly processed. The necessity of labor reform was also emphasized.

On the 18th, Prime Minister Han Duck-soo said in his opening remarks at the '6th High-Level Ruling Party-Government Council' held at the Prime Minister's official residence in Samcheong-dong, "The budget bill for next year, which the Yoon Seok-yeol administration prepared for the first time, has not passed despite far exceeding the constitutional deadline," adding, "It is very regrettable."

Prime Minister Han stated, "Major institutions are revising downward their economic growth forecasts for next year," and "Considering the severe situation, I hope the ruling and opposition parties cooperate for economic recovery and stabilization of people's livelihoods so that the budget can be promptly processed."

Requests for the ruling party's prompt processing of the budget and livelihood bills followed.

Kim Dae-gi, Chief of Staff to the President, also said, "Once again, I earnestly ask the National Assembly to promptly advance the budget and related bills so that there is no gap in state administration." He added, "It seems not easy to create jobs to revitalize investment," and "While the government will do its best, I ask the National Assembly to give much consideration to the issues currently under discussion."

The will to push forward labor reform was also expressed.

Prime Minister Han said, "Unreasonable labor-management practices and rigid working hour systems have been criticized for failing to respond to the rapid changes of the Fourth Industrial Revolution and for lowering productivity," emphasizing, "The government will actively pursue fundamental reforms to strengthen industrial competitiveness and enhance the capacity to respond to future society." Chief of Staff Kim also said, "Labor market reform will be discussed today," adding, "It is essential for revitalizing private investment and also for future generations."

Jung Jin-seok, Emergency Committee Chairman of the People Power Party, said, "The Yoon Seok-yeol government must not give up and must pull the reins of reform to the end on labor reform, which no administration has succeeded in." He said, "Reports from the International Monetary Fund (IMF) and the Organisation for Economic Co-operation and Development (OECD) warn that the Korean economy cannot revive its vitality without resolving the dual labor market and the gap between regular and irregular workers," adding, "We must supply jobs to future generations through labor reforms that enhance labor market flexibility and raise the level of labor-management cooperation."

Joo Ho-young, floor leader of the People Power Party, said, "Labor reform has become an urgent task that cannot be postponed any longer as the realities of industry and labor have completely changed due to information technology (IT) and the Fourth Industrial Revolution, but in the 2020s, our country's labor practices and wage system are still bound by the Labor Standards Act enacted in 1953."

"He emphasized, "Gaining public support and securing cooperation from the opposition party is the key to the success of labor reform." Floor leader Joo also stressed expanding the social safety net for labor reform. He said, "Large-scale labor reform may cause temporary employment instability or wage issues, so various negotiation cards such as expanding the social safety net must be prepared in advance," adding, "We must thoroughly study cases such as Germany's Hartz reforms and make sufficient preparations."

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