Minister Lee Jeong-sik Meets Major Company CHOs, Emphasizes "Prioritizing Working Hours and Wage System Reform"

Major Companies Including Samsung and Hyundai Hold CHO Meeting
Minister Lee Jeong-sik: "Efforts to Reform Working Hours and Wage Systems"
"Build Cooperative Labor-Management Relations Through Dialogue and Compromise"

Minister of Employment and Labor Lee Jeong-sik is responding to lawmakers' questions at the Environment and Labor Committee plenary meeting held at the National Assembly in Yeouido, Seoul, on the 3rd.
[Image source=Yonhap News]

Lee Jeong-sik, Minister of Employment and Labor, emphasized at a meeting with Chief Human Resources Officers (CHOs) of 30 major companies including Samsung, Hyundai, and SK that priority will be given to reforming working hours and wage systems. He also urged companies to actively strive to build a win-win labor-management relationship amid increasing demands for wage increases from workers.

The Ministry of Employment and Labor and the Korea Employers Federation held a 'Meeting of HR and Labor Executives of Major Companies' on the morning of the 17th at Lotte Hotel in Jung-gu, Seoul. This was the first time Minister Lee attended a CHO meeting. About 30 people attended the meeting, including Korea Employers Federation Chairman Son Kyung-sik, Samsung Vice President Lee Jeong-il, SK Vice President Lee Han-young, and Hyundai Motor Executive Director Park Byung-hoon.

On the day, Minister Lee said, "In accordance with the labor market reform direction announced in June, we intend to prioritize efforts to reform working hours and wage systems that affect the lives of the majority of the people," adding, "We will continue efforts to reduce actual working hours while implementing reforms to the working hours system that expand the autonomous choice of labor and management."

He continued, "In a situation where demands for employment stability for the elderly and fair compensation for the MZ generation are increasing, we will support the efforts of labor and management on the ground through various methods such as providing information and expanding consulting so that companies can establish a reasonable and fair generational coexistence wage system."

Regarding the Serious Accident Punishment Act, Minister Lee said, "This year is the golden time for our society to change the value of corporate management to focus on life and safety," emphasizing, "The safety and health management system for workers' life and safety is the most important safety measure for both the management responsible and the company itself. Management should put more effort into safety-centered management."

He also stated, "To create a gender-equal job environment, we will explore various institutional improvements such as expanding the parental leave period," and added, "Although economic uncertainties have increased after COVID-19, we ask companies to open more job opportunities for young people."

Minister Lee urged efforts to build a win-win labor-management relationship through dialogue and compromise amid growing instability in labor-management relations due to increased wage increase demands, the Supreme Court ruling on the wage peak system, high inflation, and low growth. He said, "If companies first respect labor unions as partners in corporate management and communicate with an open mind, they will be able to overcome management challenges and difficulties," adding, "The government will also strictly respond to illegal acts in the field based on laws and principles while supporting changes on the ground through continuous communication with labor and management."