Ministry of Economy and Finance in Sejong Government Complex. [Photo=Ministry of Economy and Finance]
The Ministry of Economy and Finance and the Long-Term Strategy Committee discussed the need to strengthen preventive and discovery functions in welfare policies and improve the dual structure of the labor market as part of their long-term strategic agenda.
On July 2, the two bodies held the 7th meeting of the Future Society Strategy Group, focusing on the direction of long-term welfare policies and issues related to the dual structure of the labor market.
During the meeting, participants emphasized the need to shift welfare policies from a post-support and application-based approach to a preventive and discovery-centered model. Discussions also highlighted the necessity for measures to address the rigidity in the labor market, particularly the persistent wage gap between large and small enterprises.
Chairman Kwon Oh-hyun stated, "As small businesses grow into mid-sized and large enterprises, government support decreases while regulations tighten, creating obstacles to business growth. There is a need to improve the situation where government support sometimes merely prolongs the existence of marginal firms."
Kim Ha-yeon, CEO of Nanum Vitamin, pointed out that "when designing new welfare systems, it is essential to enhance taxpayer acceptance through transparent disclosure of business objectives and funding."
Kim Jae-seung, a professor at Sungkyunkwan University’s Department of Social Welfare, noted that "to enhance labor market flexibility, strengthening employment safety nets must come first."
The Ministry of Economy and Finance and the Long-Term Strategy Committee plan to continue in-depth discussions on future strategic tasks based on the opinions presented during this meeting.
On July 2, the two bodies held the 7th meeting of the Future Society Strategy Group, focusing on the direction of long-term welfare policies and issues related to the dual structure of the labor market.
During the meeting, participants emphasized the need to shift welfare policies from a post-support and application-based approach to a preventive and discovery-centered model. Discussions also highlighted the necessity for measures to address the rigidity in the labor market, particularly the persistent wage gap between large and small enterprises.
Chairman Kwon Oh-hyun stated, "As small businesses grow into mid-sized and large enterprises, government support decreases while regulations tighten, creating obstacles to business growth. There is a need to improve the situation where government support sometimes merely prolongs the existence of marginal firms."
Kim Ha-yeon, CEO of Nanum Vitamin, pointed out that "when designing new welfare systems, it is essential to enhance taxpayer acceptance through transparent disclosure of business objectives and funding."
Kim Jae-seung, a professor at Sungkyunkwan University’s Department of Social Welfare, noted that "to enhance labor market flexibility, strengthening employment safety nets must come first."
The Ministry of Economy and Finance and the Long-Term Strategy Committee plan to continue in-depth discussions on future strategic tasks based on the opinions presented during this meeting.
* This article has been translated by AI.
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