Government Revises 52-Hour Workweek... Choo Kyung-ho: "Will Change Working Hours and Wage System"

[Image source=Yonhap News]

[Asia Economy Sejong=Reporter Kim Hyewon] The government is set to undertake labor reforms by restructuring working hours and wage systems. The 52-hour workweek will be adjusted in terms of its operation methods and enforcement measures to better fit reality, and plans will be made to enable older workers to work longer.

On the 23rd, the government announced this at the 2nd Emergency Economic Ministers' Meeting held at the Government Seoul Office, chaired by Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho.

Deputy Prime Minister Choo stated, "Considering the advanced and diversified economic and industrial structure, the labor norms and practices formed during the manufacturing-centered industrialization era no longer fit us like ill-fitting clothes," adding, "Labor market reform is an urgent task to proactively address accumulated inefficiencies, polarization, and unfairness in the labor market, as well as the imminent industrial restructuring and labor transition."

He added, "We will first promote the restructuring of working hours and wage systems," and "plan to broadly discuss various labor market reform tasks through social dialogue."

Following this, Minister of Employment and Labor Lee Jeong-sik emphasized, "We will reform the labor market so that anyone who wants to work can do so and receive fair compensation, and companies can enhance their vitality." He explained, "The working hours system will be restructured in a way that the 52-hour workweek per week, as a basic framework, can be operated and enforced realistically to properly improve long working hours in the field." He also stated, "In preparation for a super-aged society, the wage system will be restructured so that older workers can work longer and young people can have more job opportunities."