The government and economic organizations have launched a public-private consultative body to address South Korea's low birthrate. This consensus was formed on the understanding that solving the low birthrate issue requires not only the government but also companies to come together and collaborate.
On the 27th, six economic organizations, including the Korea Employers Federation, held an inauguration ceremony for the "Economic Organizations Public-Private Consultative Body for Low Birthrate Response" at the Federation Hall in Mapo-gu, Seoul, together with the Presidential Committee on Ageing Society and Population Policy (hereafter referred to as the Low Birthrate Committee) and relevant government ministries.
The launch of the public-private consultative body began when Joo Hyung-hwan, Vice Chairman of the Low Birthrate Committee, proposed the need for a permanent communication channel between the government and economic organizations to respond to the low birthrate. In response, economic organizations also recognized the necessity of addressing the low birthrate issue for companies to secure future talent and fulfill social responsibility, leading to the establishment of the consultative body.
The consultative body appointed Lee Dong-geun, Executive Vice Chairman of the Korea Employers Federation, and Choi Seul-gi, Standing Member of the Committee, as co-chairs. Along with the main consultative body, which includes heads of economic organizations and directors of relevant government ministries, a working-level consultative body will also be operated.
On the 27th, six economic organizations, including the Korea Employers Federation, held an inauguration ceremony for the "Public-Private Consultative Body of Economic Organizations for Responding to Low Birthrate" at the Federation Hall in Mapo-gu, Seoul, together with the Presidential Committee on Ageing Society and Population Policy (hereinafter referred to as the Low Birthrate and Ageing Society Committee) and relevant government ministries. [Photo by Korea Employers Federation]
The consultative body will first focus on identifying the difficulties and actual conditions companies face regarding work-family balance and alleviation of childcare burdens, which are key measures in addressing the low birthrate. It will also propose effective policies and continue discussions related to institutional improvements.
Monthly plenary meetings will be held to share progress on various projects and continuously identify tasks requiring public-private cooperation and coordination to develop policies. This year, the priority will be conducting a survey on the current status of work-family balance and childcare burden alleviation systems. A manual for operating family-friendly corporate programs will also be created, distributed, and promoted.
Co-chair Lee emphasized, "To overcome the low birthrate crisis, it is necessary to strengthen practical incentives for companies that are performing well and provide policy support such as securing substitute personnel or introducing flexible work systems for small and medium-sized enterprises facing difficulties."
Vice Chairman Joo of the Low Birthrate Committee stated, "Companies are direct stakeholders affected by the decrease in the working-age population and potential growth rate caused by the low birthrate, as well as key actors in reversing the trend. It is highly significant that economic organizations have formed a consultative body with related ministries such as the Ministry of Employment and Labor, Ministry of Health and Welfare, and Ministry of Gender Equality and Family to maintain ongoing communication."
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