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12 May 2017

South Korea’s New President Moon Jae-In’s Campaign Promises on Labor Issues: What Changes Should You Prepare For?

YULCHON
 

South Korea’s New President Moon Jae-In’s Campaign Promises on Labor Issues:
What Changes Should You Prepare For?

 
Newly-elected president Moon Jae-In’s administration has officially begun on May 10, 2017. President Moon, a liberal who favors labor-friendly policies (and a more open policy toward North Korea), has pledged to make significant and broad changes to the current labor-law regime.
Below, we briefly summarize his campaign pledges on labor issues, and the implications for current HR practices if those pledges are fulfilled.

1. Limit the Use of Non-Regular Workers [More details]

2. Reduced Working Hours [More details]

3. Preventing Abuse of Voluntary Separation Programs [More details]

4. 10,000 Won Minimum Wage By 2020 [More details]

5. Expanding Youth Employment Quotas to Private Companies [More details]

6. Enhancing Remedies for Unpaid Wages [More details]

7. Others [More details]

While most of these pledges may only be fulfilled by enacting new statutes or amending current laws, there is a reasonably high chance that the National Assembly may pass legislation addressing many of these priorities because most of the other presidential candidates and their political parties have made similar promises during the recent presidential election campaign. Therefore, companies should be prepared to understand and, if necessary, adapt to these changes in the near future.

CONTACT

Kang, Hee-Chul +82-2-528-5203 hckang@yulchon.com
Cho, Sang Wook +82-2-528-5355 swcho@yulchon.com
Park, Jae Woo +82-2-528-5682 parkjw@yulchon.com
Lee, Soojung +82-2-528-5246 slee@yulchon.com
Mandel, Christopher +82-2-528-5040 cmandel@yulchon.com
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