"No Overtime Restrictions in the US, Focusing on Technology Development"… Son Kyung-sik Meets with US Think Tank

Son Kyung-sik, Chairman of the Korea Employers Federation, met with Kevin Roberts, Chairman of the Heritage Foundation, in Washington, D.C. on the 25th (local time) to discuss the recent labor market reforms being promoted in South Korea. The Heritage Foundation is a conservative-leaning nonprofit think tank in the United States that serves as a policy advisor to the U.S. government.

Chairman Son mentioned South Korea's efforts to revise labor laws such as working hours, explaining, "The Korean government aims to improve the business and investment environment through labor reforms to boost economic vitality and lay the foundation for job creation for future generations."

Chairman Sohn Kyung-shik of the Korea Employers Federation and Chairman Kevin Roberts of the Heritage Foundation are posing for a photo holding the Leadership Guidelines, a policy analysis report created by the Heritage Foundation.

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Previously, the Heritage Foundation pointed out in 2021, while evaluating economic freedom by country, that South Korea's working hours system "strengthens labor market rigidity." Chairman Son said, "The United States has no unnecessary labor market regulations such as restrictions on overtime work, which allows many global and innovative companies to focus on business activities and technological development. This has significant implications for South Korea's labor reforms."

He added, "The free business activities and regulatory reforms pursued by the Heritage Foundation share many similarities with the activities of the Korea Employers Federation," and expressed hope that "we can cooperate in the future to build economic cooperation and a business-friendly environment between the two countries."

Earlier, the two chairmen met in April last year to exchange views on economic cooperation between the two countries. During his visit to the U.S. this time, Chairman Son plans to meet with key local figures such as John Hamre, Chairman of the Center for Strategic and International Studies (CSIS), and Kathleen Stephens, President of the Korea Economic Institute (KEI), to discuss ways to enhance friendly relations.

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