Yellow Envelope Act Promulgated on September 9... To Take Effect on March 10 Next Year

The Yellow Envelope Act (Amendment to Articles 2 and 3 of the Trade Union and Labor Relations Adjustment Act), which passed the National Assembly plenary session and the Cabinet meeting, was officially promulgated on September 9, setting the stage for its full implementation on March 10 next year.

원본보기 아이콘

The Ministry of Employment and Labor announced that the Yellow Envelope Act, which was passed by the National Assembly last month, went through the government's transmission process and was approved at the Cabinet meeting on the 2nd before being promulgated on this day. The Yellow Envelope Act expands the definition of "employer" and the scope of labor disputes, and limits the proportion of liability for damages. The enforcement date is March 10 next year, six months after promulgation.

Minister of Labor Kim Younghoon stated, "During the upcoming six-month preparation period, we will gather a wide range of opinions from the field through an on-site support task force (TF)," adding, "We will meticulously develop concrete guidelines and manuals." He further remarked, "We will calmly prepare for implementation by establishing measures to promote win-win negotiations, such as a standard bargaining model."

Minister Kim also said, "The government will do its utmost to ensure that the intent of the amendment-to build a healthy and sustainable industrial ecosystem through labor-management coexistence-is realized in the field." He urged, "We ask that both management and labor, as parties to labor relations, make efforts to establish a new labor-management relationship through participation and cooperation."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.