Mid-sized business lobby calls for labor market flexibility

By Kim Dong-young Posted : September 3, 2024, 14:53 Updated : September 3, 2024, 14:54
Kwon Gi-seob (right), the chair of the Economic, Social and Labor Council, and Choi Jin-shik, the chair of the Federation of Middle Market Enterprises of Korea (FOMEK), pose for a photo during their meeting in Seoul on Sept. 3, 2024. Courtesy of FOMEK
SEOUL, Sept. 3 (AJP) - The head of Korea’s mid-sized companies' association on Tuesday called for greater labor market flexibility during a meeting with the new chief of the presidential council on labor policies.

Choi Jin-shik, chair of the Federation of Middle Market Enterprises of Korea (FOMEK), visited Kwon Gi-seob, the newly appointed chairman of the Economic, Social and Labor Council (ESLC), the tripartite panel representing the government, businesses, and labor unions.

During the meeting, Choi submitted a set of proposals, including easing employment protection for regular workers, creating a foundation for continued employment of those aged 60 and above and increasing flexibility in working hours.

"To build a sustainable growth foundation, we need a smooth inflow and outflow of personnel," Choi said. He emphasized the need for a system where both the state and companies actively support workers’ job transitions through various retraining programs and financial assistance.

Choi also stressed the importance of social consensus on the value of growth and desirable labor-management coexistence to improve what he described as an anti-business legal and institutional environment.

In response, Kwon said President Yoon Suk Yeol had recently emphasized the rule of law in labor-management relations and continued social dialogue.

He called for active participation from the mid-sized business sector in social dialogue aimed at transforming Korea's industrial structure and strengthening its ecosystem.

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