Lee Jae-myung Announces Youth Policy Pledges
Yoo Seung-min Guarantees 3 Years Parental Leave
Focus on Low Birthrate Solutions Including Parent Insurance
Ha Tae-gyeong Unveils Labor Market Reform Pledges
Aims to Amend Labor Standards Act by 2027
[Asia Economy Reporters Park Jun-yi and Koo Chae-eun] Presidential candidates from both ruling and opposition parties are competing to present pledges targeting the 2030 generation. Lee Jae-myung, Governor of Gyeonggi Province, announced a ‘Youth Policy Pledge’ on the 5th, focusing on youth basic income, tuition fees proportional to credits, and the supply of basic housing.
Governor Lee stated, "Starting in 2023, we will provide an annual ‘Youth Basic Income’ of 1 million KRW to young people aged 19 to 29," adding, "When combined with universal basic income, by the end of the term, each individual will receive 2 million KRW." He also said, "We will improve the eligibility criteria for employment insurance so that voluntary job changes during youth can receive unemployment benefits once in a lifetime." He pledged that the supply of ‘basic housing’ would be prioritized for young people.
On the conservative opposition side, former lawmaker Yoo Seung-min focused on ‘low birthrate,’ and Ha Tae-kyung of the People Power Party emphasized ‘youth employment’ in their pledges. On the same day, former lawmaker Yoo stated on his YouTube channel ‘Yoo Seung-min TV,’ "We will definitely create a country where raising children is desired, and marriage and childbirth are blessings, not burdens." The core of his pledge is to guarantee three years of parental leave to both parents, which can be used in three installments until the child turns 18. He specifically promised to extend this guarantee not only to public institutions but also to employees of private companies. The introduction of ‘parental insurance,’ a pledge from the last presidential election, was also included. This would extend childcare insurance support to those not covered by employment insurance, who are currently in the blind spots of the parental leave system.
People Power Party presidential primary candidate Ha Tae-kyung is holding a press conference on the 7th presidential pledge regarding labor market reform at the National Assembly Communication Office on the 5th. Photo by Yoon Dong-joo doso7@
Ha Tae-kyung of the People Power Party unveiled a ‘labor market reform’ pledge emphasizing labor flexibility. At a press conference held at the National Assembly that morning, Ha said, "To solve youth employment issues, we will break the privileged unions and the iron rice bowls in the public sector," pledging to amend the Labor Standards Act to allow for regular dismissal of unqualified and low-performing workers. The perspective is that as existing jobs decrease, youth jobs can increase.
Ha explained, "We will legally define what constitutes ‘just dismissal’ and ‘unjust dismissal’," aiming to amend the Labor Standards Act for full implementation by 2027. Until the related system is stabilized, a ‘10% labor adjustment system’ will be temporarily operated. This system allows for regular dismissal within 10% of the workforce in large corporations and the public sector, with vacancies to be filled by workers from small and medium-sized enterprises, non-regular workers, and young job seekers.
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