Minister of Employment and Labor Kim Younghoon met with representatives of foreign chambers of commerce in Korea and stressed the government’s commitment to enhancing predictability on the ground following the enforcement of the amended Trade Union Act, commonly referred to as the Yellow Envelope Act, and to improving the foreign investment environment.
At a meeting with foreign chambers of commerce in Korea held in Seoul on the 26th, Minister Kim said, “We have prepared with the top priority of increasing predictability so that the amended law can take root stably in the field.”
He explained, “Once the law is amended, there is inevitably room for various interpretations and applications in the field. In response, the government has drawn up interpretive guidelines based on court rulings, clarified the criteria for determining employer status and the scope of labor disputes, and at the same time has been pushing ahead step by step with the revision of subordinate regulations.”
Kim Younghoon, Minister of Employment and Labor, is giving a special lecture during a dialogue with on-site supervisors held on the 14th of last month at EL Tower in Yangjae, Seocho-gu, Seoul. Yonhap News
He went on to emphasize, “To deal with issues that are difficult to judge based on guidelines alone, we have established the Collective Bargaining Decision Support Committee, an expert advisory body, and are prepared to provide consistent authoritative interpretations for individual cases.”
Minister Kim added, “Through win-win collective bargaining consulting for original contractors and subcontractors, we are supporting mediation and coordination on bargaining agendas and methods, and laying the groundwork so that this will lead to substantive bargaining after the law takes effect.”
Minister Kim stated, “We will listen directly to opinions from the field and reflect them in the operation of the system so that companies can conduct their business more predictably and stably than before in Korea,” and expressed his intention to maintain continuous communication with the business community by saying, “A fair labor order and mutually beneficial labor-management relations are an important foundation of the investment environment and ultimately contribute to strengthening national competitiveness.”
The government plans to review the difficulties raised by foreign companies and the opinions on institutional improvement that were presented on this day together with the relevant ministries and reflect them in policy.
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