Presidential Office Sets Course for "Yellow Envelope Act" Implementation... President Lee: "Must Align with Advanced Country Standards"

Kang Hunsik, Chief Presidential Secretary:
"We Have Not Yet Taken This Path,
But It Is the Direction We Must Go"

President Lee Jaemyung has effectively set a course to push through the so-called "Yellow Envelope Act" (the amendment to Articles 2 and 3 of the Trade Union and Labor Relations Adjustment Act). While concerns about the Yellow Envelope Act are being raised, particularly among business circles, President Lee is determined to bring the legislation in line with advanced countries. As a result, the legislative drive by the Democratic Party of Korea in the National Assembly in August is expected to gain further momentum.

Yonhap News

On the 18th, Kang Hunsik, Chief Presidential Secretary, held a press briefing at the presidential office in Yongsan and, regarding the "Yellow Envelope Act," stated, "Although we have not yet taken this path, we recognize it as the direction we must go." Kang said, "I believe we must responsibly push forward so that the law's intent-to promote dialogue at industrial sites and to close gaps-can be reflected in reality."

Kang also commented, "I do not believe that avoiding or delaying the issue will provide an answer," adding, "I think we need to proceed according to due process. In fact, I understand that even companies are gradually starting to accept these aspects."

Earlier that morning, President Lee, at a meeting with business leaders who will accompany him on his visits to the United States and Japan, said, "In terms of labor standards and corporate law, we must fundamentally adhere to the areas that need to be aligned with global standards." Kang Yujeong, spokesperson for the presidential office, conveyed that President Lee emphasized the need to match advanced country standards in these fundamental areas.

However, President Lee also expressed his intention to ease unnecessary regulations to reduce the burden on businesses. Spokesperson Kang stated, "Aside from the Yellow Envelope Act, President Lee mentioned that there are other areas where regulations on businesses should be further lifted, and that issues such as breach of trust should be relaxed, indicating that there are aspects that need to be adjusted differently."