People Power Party Meets Economic Leaders: "In the Midst of a Complex Crisis... Preparing Alternatives to the Yellow Envelope Act"

"Concerns Over Declining Youth Employment and National Vitality"

The People Power Party argued that the implementation of various labor laws, such as the Yellow Envelope Act and the Serious Accidents Punishment Act, is increasing difficulties in the industrial sector. The party stressed the need for supplementary measures, announcing plans to pursue legislative amendments to the Yellow Envelope Act by clarifying the definition of 'employer' and the criteria for bargaining, as well as by easing criminal liability.

Song Un-seok, Floor Leader of the People Power Party, is speaking at a labor issues meeting with economic figures held at the National Assembly on the 15th.

On April 15, the People Power Party held a labor issues meeting with economic organizations at the National Assembly. Attendees included the Korea Employers Federation, Korea Federation of SMEs, Korea Automobile Mobility Industry Association, and Korea Offshore & Shipbuilding Association. Among those present were Song Un-seok, Floor Leader of the People Power Party; Jeong Jeom-sik, Chief Policy Officer; Assemblymen Park Chungkwon and Woo Jaejun; Lee Dong-geun, Executive Vice Chairman of the Korea Employers Federation; Oh Kiwoong, Executive Vice Chairman of the Korea Federation of SMEs; Jeong Dae-jin, President of the Korea Automobile Mobility Industry Association; and Oh Chungjong, Vice Chairman of the Korea Offshore & Shipbuilding Association.

During the meeting, Floor Leader Song explained, "Last month, the youth unemployment rate reached 6.8%, the highest in three years and five months since September 2022, while the youth employment rate dropped to 43.9%, the lowest since May 2022." He remarked, "The employment cold spell felt by young people is already at a disaster level." He further pointed out, "In addition to the employment cold spell, policy variables are worsening the situation experienced by the youth."

Floor Leader Song also stated, "(If the Yellow Envelope Act is implemented,) primary contractors will inevitably spend time deliberating on which subcontractor union to negotiate with." He added, "Policies fundamentally changing the labor field, such as the revision of the fixed salary system and the introduction of the presumption of employment status, are being promoted by the Lee Jaemyung administration." Highlighting the conflict between the Serious Accidents Punishment Act and the Yellow Envelope Act, he noted, "In reality, companies do not know what course of action to take."

Chief Policy Officer Jeong also emphasized, "Our companies are now in the midst of a truly complex crisis." He stated, "If the implementation of the Yellow Envelope Act continues, it will not only weaken the competitiveness of our companies but also become a decisive factor in deepening the Korea Discount. This will dampen corporate investment sentiment and send negative signals to the stock market, which will inevitably lead to a decrease in youth employment and a general decline in national vitality."

Economic figures who attended the meeting unanimously argued that it is necessary to amend laws that restrict corporate management activities. Specifically, they mentioned the need to allow replacement labor following the implementation of the Yellow Envelope Act and to prevent the abuse of the hourly annual leave system. Executive Vice Chairman Lee emphasized, "Extending the legal retirement age across the board increases labor costs for companies and, in particular, raises significant concerns about shrinking new hiring opportunities for young people."

The People Power Party is currently preparing to draft alternative legislation for the Yellow Envelope Act. After the meeting, Assemblyman Woo explained to reporters, "The core of the alternative legislation will be clarifying the definition of 'employer' and specifying with whom employers should negotiate." He added, "It may also include provisions to avoid shifting all confusion and criminal liability onto employers."

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