Yoon "Must Eradicate Union Corruption"... Labor Reform Remarks Intensify

Three Major Corruptions to Eradicate Alongside Labor Union Corruption and Public Office and Corporate Corruption
State Support Needed for Export and Trade-Related "Infrastructure Contracts, Trade, and Strategic Industry Investment"

[Image source=Yonhap News]

[Asia Economy Reporter Ki-min Lee] President Yoon Suk-yeol emphasized on the 21st, "Now we must launch reforms to eliminate the wrong systems and deep-rooted evils that hinder our growth and development and improve these systems."

This is the first time President Yoon has made the elimination of deep-rooted evils, which was a key agenda of the previous Moon Jae-in administration, a core principle of his government management.

In particular, among the three major reforms of labor, pension, and education, President Yoon identified 'labor reform' as the most urgent reform task and reaffirmed his plan to accelerate related legislation starting next year.

On the morning of the same day, President Yoon presided over the 12th Emergency Economic and Livelihood Meeting and the 1st National Economic Advisory Meeting at the Blue House State Guest House, stating, "Since the government was launched, to overcome the waves of the global economic crisis, we have implemented this year's policies focusing on urgent issue responses." The meeting was also held in conjunction with the Ministry of Economy and Finance's 2023 New Year work report.

Regarding the three major reform tasks, President Yoon ordered, "Even if they are unpopular, they must be accomplished for future generations, and 2023 should be the inaugural year for pushing forward reforms."

He also instructed each ministry to prepare necessary reform-related content and engage in public discussions with the people, emphasizing the need for a public consensus process. President Yoon stressed, "Reforms must be swiftly and strongly promoted under social consensus."

Among the three major reforms, labor was identified as the most urgent task. President Yoon said, "Improving the dual structure in the labor market, establishing a rational compensation system, and changing the exploitative system among labor unions are truly ways to respect the value of labor."

He particularly pointed out union corruption as one of the three major corruptions to be eradicated in our society, alongside public office corruption and corporate corruption, urging strict law enforcement.

President Yoon stated, "Labor-management rule of law is an unavoidable task to properly build and grow the country," adding, "To reduce inefficient disputes in labor-management relations and use those costs for workers' welfare, labor-management rule of law must be firmly established."

Regarding economic policy direction, he also urged management to prevent the expansion of financial insolvency. President Yoon said, "High interest rates could worsen household and corporate debt problems, and we must manage well to prevent this from expanding into household and corporate insolvency, and further into financial sector insolvency."

Concerning exports and industry, he mentioned that national policy support is essential not only for economic cooperation with emerging markets, infrastructure orders, and trade but also for investment and support in strategic industries for future generations.

In the closed-door work report, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho presented next year's economic policy direction, explaining key policies for overcoming challenges and economic re-leap along with economic forecasts, according to a press release from the presidential office.

Following the report, discussions were held on stable macroeconomic management to overcome the economic crisis and measures to restore the livelihood economy. Regarding the post-crisis re-leap, private participants and government officials also discussed fostering new industries and structural reforms, the presidential office reported.

The meeting was attended by Prime Minister Han Duck-soo and ministers of related economic departments. From the private sector, two economic organization heads, including Chairman Choi Tae-won of the Korea Chamber of Commerce and Industry and Chairman Koo Ja-yeol of the Korea International Trade Association, participated.

Additionally, 29 advisory committee members, including Lee In-ho, Vice Chairman of the National Economic Advisory Council (Emeritus Professor of Economics at Seoul National University), who received a commission certificate from President Yoon before the meeting, presidential office staff, and Seong Il-jong, Policy Committee Chairman of the People Power Party, totaling about 60 participants, attended.

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