Economic Deputy Prime Minister's Appeal: "Additional Overtime Sunset Extension Needed for Small Businesses"

Choo Kyung-ho Announces 'Appeal for National Assembly Approval of Extended Overtime System'

Prime Minister Choo Kyung-ho Preparing to Announce a National Address
(Seoul=Yonhap News) Reporter Kim Seung-doo = On the 20th, Choo Kyung-ho, Deputy Prime Minister and Minister of Economy and Finance, prepared to announce a national address urging legislation to extend the sunset clause on additional overtime work at the government Seoul office briefing room, accompanied by Lee Jeong-sik, Minister of Employment and Labor, and Lee Young, Minister of SMEs and Startups. 2022.12.20
kimsdoo@yna.co.kr
(End)

＜Copyright (c) Yonhap News Agency, Unauthorized reproduction and redistribution prohibited＞

[Asia Economy Sejong=Reporter Lee Jun-hyung] The government has urged the National Assembly to extend the sunset clause on the additional 8-hour overtime work system for workplaces with fewer than 30 employees. The government believes that extending the sunset clause on the additional overtime system is inevitable to reduce the burden on small businesses.

On the morning of the 20th, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho announced a "Plea to Urge the National Assembly to Pass the Bill Extending the Sunset Clause on Additional Overtime Work within the Year" at the Government Seoul Office. In the plea, Deputy Prime Minister Choo said, "The government is rapidly advancing labor market reforms such as flexible working hours," adding, "However, since it takes considerable time to prepare government proposals and for legislation and implementation, extending the sunset clause on additional overtime work is an unavoidable choice to immediately alleviate difficulties faced by small and medium-sized enterprises and small business owners."

The additional overtime work system temporarily allows workplaces with fewer than 30 employees to work an extra 8 hours per week. Previously, the government expanded the 52-hour workweek system to workplaces with fewer than 50 employees and introduced the additional overtime system to reduce the burden on small businesses. Currently, the system applies to 630,000 workplaces and 6.03 million workers.

The issue is that the additional overtime work system is set to expire on the 31st of this month. In response, the government announced plans to extend the sunset clause at the end of October and held meetings with small business owners and consultations between the ruling party and the government. However, the bill to extend the sunset clause on the additional overtime system remains pending without even being discussed in the National Assembly's standing committee.

"Urging the Abolition of the Sunset Clause on the 8-Hour Additional Overtime System"
(Seoul=Yonhap News) Reporter Baek Seung-ryeol = Members of small and medium-sized enterprises, small business owners, and self-employed groups held a press conference urging the abolition of the sunset clause on the 8-hour additional overtime system on the stairs in front of the National Assembly main building on the 8th. 2022.12.8
srbaek@yna.co.kr
(End)


＜Copyright(c) Yonhap News Agency, Unauthorized reproduction and redistribution prohibited＞

Deputy Prime Minister Choo emphasized that if the additional overtime system expires, small businesses suffering from labor shortages will be directly hit. He said, "If the additional overtime system ends as scheduled, the pain that vulnerable small and medium-sized enterprises and small business owners will endure is hard to imagine," adding, "Serious damage is expected especially in the root industries and shipbuilding sectors facing severe labor shortages, as well as in the information technology (IT) field where concentrated work is unavoidable." He further stated, "For some companies operating 24-hour factories, failing to secure three-shift personnel immediately could lead to halting equipment or even becoming lawbreakers to meet delivery deadlines."

Deputy Prime Minister Choo also expressed concerns about the worsening treatment of workers at small workplaces. He pointed out, "Many workers will leave or be forced into second jobs because income from up to 52 hours of work is insufficient to sustain their livelihoods," adding, "The side effects of sharp income drops and deteriorating quality of life will be even more severe in sectors with a high proportion of overtime work, such as small shipbuilding companies." He continued, "If small and vulnerable SMEs and small business owners collapse, the most vulnerable workers in our economy will be the first to lose their jobs."

Deputy Prime Minister Choo reiterated the necessity of the bill to extend the sunset clause on the additional overtime system. He said, "Small and medium-sized enterprises, venture companies, small business organizations, and field entrepreneurs have continuously demanded the extension of the additional overtime sunset clause," and earnestly appealed, "As this is an urgent livelihood issue, I sincerely urge both ruling and opposition parties to cooperate in the spirit of governance and coexistence, promptly discuss it in the standing committee, and pass it in the National Assembly within this year."

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