Seoul Mayor Oh Se-hoon proposed that "a wage system based on job-based pay and performance-based pay, which rewards individual capabilities, should be introduced to reshape the labor market."
On the 16th, Mayor Oh mentioned via social media (SNS) that Lee Jae-myung, leader of the Democratic Party of Korea, advocated for extending the retirement age, and stated, "The real youth policy is to create a 'fair workplace.'"
Mayor Oh cited the January employment trends from Statistics Korea, noting that the youth employment rate decreased at the largest rate in four years, and the wage growth rate for those in their 20s was the lowest among all age groups, saying, "This is evidence that opportunities for securing quality jobs in young people's lives are disappearing."
He added, "The anger of young people, who believe that the fruits of growth are enjoyed by the older generation while they themselves are burdened by chronic low growth and welfare finance pressures, is truly justified," and pointed out, "Young people are demanding 'fair competition and appropriate compensation.'"
Mayor Oh emphasized the need to introduce job-based and performance-based pay systems, stating, "The seniority-based wage system, which determines wages according to age and years of service, is neither just nor fair."
He continued, "Only then can companies increase youth employment without burden, and young people can freely demonstrate their capabilities."
Regarding the introduction of job-based and performance-based pay systems, Mayor Oh said, "Above all, the attitude of the Democratic Party, which holds the majority in the legislature, and the two major labor unions is important," and added, "Please actively participate in establishing intergenerational justice in the labor market."
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