Finance minister says labor and industry reforms are on the way
Updated: 2022-06-23 11:33:27 KST
Back on the local front.
Seoul's top finance official has pledged LABOR MARKET REFORMS in the near future.
Finance Minister Choo Kyung-ho on Thursday pointed out that current labor codes were set up to accommodate industries that were heavily based on manufacturing which is no longer the case as industries have now become highly developed and diversified.
Choo said reforms will seek to support a market-led economy.
As part of step one working hours and wages will see changes.
The Yoon administration will reportedly invite experts outside of the government to take charge of the "regulation reform task force" and leave it up to them to decide what changes are most vital.