Chairman Kim Jihyung of the Economic, Social and Labor Council Makes First Visit to Korea Federation of SMEs

Kim Kimum Urges for Social Dialogue that Balances Labor and Management Perspectives

On November 19, the Korea Federation of SMEs announced that it held an introductory meeting with Kim Jihyung, the newly appointed Chairman of the Economic, Social and Labor Council, at its Yeouido headquarters, where they discussed current employment and labor issues facing small and medium-sized enterprises, as well as social dialogue.

Kim Jihyung, Chairman of the Economic, Social and Labor Council (left), and Kim Kimum, Chairman of the Korea Federation of SMEs, are taking a commemorative photo. Korea Federation of SMEs

Kim Kimum, Chairman of the Korea Federation of SMEs, stated, "Chairman Kim Jihyung is expected to wisely navigate labor-management relations, drawing on his extensive experience as a Supreme Court Justice and as the civilian chairman of the Regulatory Reform Committee." He added, "Recently, with the revision of the Trade Union Act and major labor issues such as the extension of the statutory retirement age and the introduction of the 4.5-day workweek, the views of the business community have not been adequately reflected, raising concerns among companies. There is a need for social dialogue that balances the perspectives of both labor and management."

He continued, "The most urgent issue to be addressed through social dialogue is the flexibilization of working hours. In the manufacturing sector, time is productivity, and since half of SMEs are suppliers, meeting delivery deadlines is extremely important."

Regarding the recent issue of extending the statutory retirement age, he said, "While I agree with the intention considering the trends of low birth rates and an aging population, it is necessary to consider the side effects, such as increased labor costs for companies and a reduction in youth employment. Therefore, measures to enhance wage and employment flexibility, such as selective reemployment, are needed to better utilize senior workers."

Kim also expressed, "We hope that the social dialogue at the Economic, Social and Labor Council, which was suspended at the end of last year, will resume as soon as possible. The SME community will actively participate to ensure that the dialogue leads to a win-win outcome for both labor and management."

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