Jin-sik Choi, Chairman of Junggyeonryeon, "Economic Rebound Starts with Labor Reform at OECD Advanced Country Level"

Minister Lee Jeong-sik of the Ministry of Employment and Labor Invited
184th Mid-sized Company CEO Luncheon Lecture

To create momentum for economic re-acceleration, it was suggested that labor market competitiveness, which is among the lowest in the world, must be urgently improved through labor policy innovations at the level of OECD advanced countries.

Choi Jin-sik, Chairman of the Korea Federation of Medium-sized Enterprises, stated this on the 18th at the '184th Medium-sized Enterprise CEO Luncheon Lecture' hosted by the Federation, inviting Lee Jeong-sik, Minister of Employment and Labor. Chairman Choi said, "We need to reduce labor costs as necessary and create an environment where more employment is possible when needed, while the government and society strengthen various social safety nets to create a virtuous cycle that supports the lives of individual workers."

Choi Jin-sik, Chairman of the Korea Federation of Medium-sized Enterprises, is speaking at the "Lunch Lecture for Medium-sized Enterprise CEOs Invited by Lee Jeong-sik, Minister of Employment and Labor" on the 18th.

Chairman Choi also emphasized, "We should pay attention to the fact that in a survey conducted by the Korean Economic Association early last year, 81% of economists responded that expanding labor market flexibility is necessary for job creation in our country, and among them, 65% said that facilitating the job change and dismissal of existing workers is required."

On the same day, Minister of Employment and Labor Lee Jeong-sik, in his lecture on the theme of 'Major Employment and Labor Policy Directions,' said, "The goal of labor reform based on the rule of law is to create a country favorable for business through a fair labor market and to foster a win-win labor-management culture," adding, "This is the shortcut to overcoming the low-growth phase by enhancing our economy's global competitiveness and creating quality jobs."

Minister Lee emphasized, "We will make greater efforts to comprehensively address various employment and labor issues such as reforming working hours and wage systems, strengthening union accounting transparency, improving the dual structure of the labor market, reducing serious accidents, and establishing labor-management rule of law, to dramatically boost private sector vitality."

Before the luncheon lecture, the Federation submitted nine regulatory improvement proposals to Minister Lee, including 'relaxation of protection for regular employee employment,' 'rational improvement of labor-management relations legislation,' 'full reconsideration of the Trade Union Act amendment,' and 'supplementary legislation on the Serious Accidents Punishment Act.'

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