Mayor Oh Se-hoon: "Workplaces Must Change to Overcome Low Birthrate Crisis"

KCCI Special Lecture Inviting Mayor Oh Se-hoon on the 23rd

Seoul Mayor Oh Se-hoon is delivering a congratulatory speech at the '2023 Asia Economy Women Leaders Forum' held at Lotte Hotel in Jung-gu, Seoul on the 24th of last month. Photo by Hyunmin Kim kimhyun81@

Seoul Mayor Oh Se-hoon appealed to business leaders for change, stating that workplaces must transform to overcome the low birthrate crisis.

On the morning of the 23rd, the Korea Chamber of Commerce and Industry (KCCI) held a special lecture at the KCCI International Conference Hall, inviting Seoul Mayor Oh Se-hoon. About 200 businesspeople from the Seoul area attended, including Lee Jong-tae, Chairman of the KCCI Mid-sized Enterprises Committee (Chairman of Fursys), Jeong Ki-ok, Chairman of the Small and Medium Enterprises Committee (Chairman of LSC Food), and Heo Beom-mu, Chairman of the Seoul Economic Committee (CEO of Gounet).

Mayor Oh Se-hoon stated, "To overcome the unprecedented low birthrate crisis with a total fertility rate of 0.7 (in the second quarter of this year), the workplace, where caregivers spend the most time, must first change," and appealed, "I hope companies will join in creating a corporate culture that is friendly to raising children."

Seoul City is promoting a plan to support the wages of young interns replacing employees on parental leave for up to 23 months for 'Seoul-type strong small and medium enterprises' to minimize work gaps caused by parental leave and foster a child-friendly corporate culture. Additionally, starting this year, Seoul has introduced the 'Seoul-type Childcare Allowance' to support families experiencing childcare gaps, implementing various policies to alleviate the realistic childcare burdens of mothers and fathers.

When selected as a Seoul-type strong small and medium enterprise, Seoul City supports the wages of young interns replacing employees on parental leave for up to 23 months to create a child-friendly organizational culture. It also provides customized consulting where experts visit workplaces directly to help establish a corporate culture that balances work and life.

Earlier, Jeong Ki-ok, Chairman of the KCCI Small and Medium Enterprises Committee and Honorary Mayor of Seoul, said in his greeting, "Whether Seoul’s economy, the heart of South Korea’s economy, revitalizes is directly connected to the lives of countless citizens," adding, "I hope today’s special lecture deepens understanding of Seoul’s policies and becomes an opportunity for Seoul and businesspeople to unite in making Seoul a 'Global Top 5 City.'"

After the lecture, Mayor Oh attended a luncheon meeting with key business leaders. At the meeting, businesspeople from various districts proposed diverse opinions to revitalize Seoul’s economy and support enterprises.

First, to promote balanced development and startup activation in Seoul, they requested the additional construction of knowledge industry centers equipped with advanced infrastructure in Gwanak-gu, Gwangjin-gu, and Dongjak-gu, where such centers have not yet been established. They also suggested expanding the scale of the Small and Medium Enterprise Development Fund (?200 billion), directly loaned by Seoul City, as it is difficult for small and medium enterprises lacking collateral to use the ?1.4 trillion market bank cooperative fund, which operates as an interest subsidy fund.

Other proposals from businesspeople included ▲extending loan maturities and adjusting interest rates for small business loans from local governments, which increased significantly during the COVID-19 period, considering recent consumption contraction and inflation ▲revitalizing neglected public open spaces to allow performances and events ▲and devising balanced development measures for Gwangjang Market in Jongno-gu, which has been highlighted mainly for its food offerings.