Party and Government: "Mandatory Accounting Disclosure if More Than Half of Union Members Request"

Audit Required if More Than One-Third Demands
First Min-Dang-Jeong Council Meeting After Party Leader Election

The People Power Party has agreed with the government to mandate union accounting disclosure if more than half of the union members request it or if acts such as embezzlement or breach of trust occur within the union. Along with this, a bill will be proposed to conduct an accounting audit if at least one-third of the union members agree.

Seong Il-jong, the Policy Committee Chairman of the People Power Party, announced this during a briefing after the party-government consultation meeting on the 13th.

The party and government stated that unions and their subordinate organizations will be encouraged to voluntarily disclose regulations, number of members, financial statements, etc., using the union accounting disclosure system. However, if more than half of the members request disclosure through the system or if incidents such as embezzlement or breach of trust, as defined by the Ministry of Employment and Labor regulations, occur and the minister demands disclosure, disclosure will be made mandatory.

[Image source=Yonhap News]

Additionally, for unions above a certain size, the union accounting auditor can be elected from qualified individuals such as certified public accountants. Also, if at least one-third of the union members agree, an accounting audit can be conducted. The right of members to inspect union accounting books at any time will be strengthened, and the retention period for accounting documents will be extended from the current 3 years to 5 years.

Chairman Seong said, "Illegal acts by unions that disrupt normal business and management activities of employers through violence still occur in the field, and especially since the allowance of multiple unions, large unions have been harassing smaller unions or non-union members, with continued cases of labor rights violations," expressing that the party and government share the same view.

He added, "We will prohibit unions from interfering with legitimate union activities or work performance of other unions or workers," and said, "We will strictly regulate acts that disturb fair market order, such as forcing union membership or prioritizing hiring of union members' children."

He also stated, "Illegal acts such as coercing unlawful collective agreement signing through assault or threats, and discrimination in hiring or wages against workers who are not union members will be regulated as illegal acts, and sanctions such as imprisonment or fines will be established for violations."

Kim Ki-hyun, the leader of the People Power Party, said in his opening remarks at the meeting, "It is time for strong, large aristocratic unions to fulfill their social responsibilities to gain the trust of their members and the public," and added, "The party and government will work as one team to resolve these issues step by step."

Lee Jeong-sik, Minister of Employment and Labor, stated, "For future generations, it is necessary to eradicate unreasonable practices, establish labor-management rule of law, and guide the transition from confrontational labor-management culture to a rational labor-management relationship."