Luncheon Meeting Inviting Prime Minister Kim Minseok
Proposals for Alternatives on the Yellow Envelope Act and the Serious Accidents Punishment Act
Son Kyungsik, chairman of the Korea Employers Federation (KEF), proposed practical support measures to stabilize labor-management relations and ease management burdens at a meeting to which Prime Minister Kim Minseok was invited.
Son Kyungsik, chairman of the Korea Employers Federation, is delivering remarks at a luncheon and K-Government policy briefing hosted by Prime Minister Kim Minseok at the Four Seasons Hotel in Jongno-gu, Seoul, on the 26th. Yonhap News
In his welcoming remarks at the "Prime Minister Invitation, KEF Luncheon Meeting and K-Government Policy Briefing" held at the Four Seasons Hotel Seoul on the 26th, Chairman Son presented the business community's views on labor market and labor-management issues, as well as on safety and related laws and institutions. He noted that although there are many positive aspects, such as the KOSPI index surpassing 6,000 points and improvements in export and consumption indicators, the pace of recovery differs by industry and sector, and the burden of a persistently high exchange rate remains, making institutional support from the government necessary.
Chairman Son said, "Labor-management issues have been pointed out as a factor undermining national competitiveness, so fundamental improvements are needed," adding, "With regard to the amended Trade Union and Labor Relations Adjustment Act (Yellow Envelope Act), which will take effect from the 10th of next month, it is still unclear how far the scope of the employer, who is the counterpart in collective bargaining, extends, and what kinds of 'managerial decisions of the business' can be the subject of collective bargaining and industrial action."
He went on to say, "I hope the government will move quickly so that labor-management relations on the ground can be stabilized based on clear legal interpretations," adding, "The Korea Employers Federation will work closely with the Ministry of Employment and Labor on this issue."
Chairman Son argued that a flexible working-hour system must be operated so that companies can prepare for technological innovation centered on artificial intelligence (AI).
On the issue of extending the retirement age, he said, "As we enter a super-aged society, there is a consensus that older workers with experience and expertise should be able to contribute in the field for a longer period," and emphasized, "However, rather than viewing an extension of the statutory retirement age as the only solution, I hope that a variety of approaches, including 're-employment after retirement,' will be considered together, taking into account the characteristics of each industry and on-site conditions."
He also proposed alternatives regarding the fact that, even though four years have passed since the Serious Accidents Punishment Act came into force, fatal industrial accidents have not decreased. Chairman Son said, "For accident prevention, I ask that measures to strengthen preventive activities rather than punishment be actively pursued," and added, "I hope that, instead of focusing on directly imposing criminal liability on the representative director, reviews will be carried out in the direction of strengthening responsibility mainly through economic penalties."
Prime Minister Kim Minseok is delivering a speech at a luncheon meeting and K-Government briefing hosted by the Korea Employers Federation at the Four Seasons Hotel in Jongno-gu, Seoul, on the 26th. Photo by Yonhap News.
Through the K-Government policy briefing conducted during the meeting, Prime Minister Kim shared the government's major policy achievements and personally explained the direction of government administration for 2026, while pledging active government support so that companies can continue to grow and conduct their business activities in a stable manner. He also stressed that the more internal and external uncertainties expand, the more important it becomes to have a public-private "One Team Korea" system in which the government and businesses work closely together.
The meeting was attended by Prime Minister Kim, Vice Minister of Trade, Industry and Energy Moon Sinhak and other government officials, as well as Chairman Son, Samsung Electronics President Park Seunghee, SK Vice Chairman Lee Hyunghee, Hyundai Motor Vice President Jung Sangbin, LG Chem President Cha Dongseok, Lotte Corporation President Ko Jungwook and 23 members of the KEF chairmanship and representatives of member companies in total.
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