Jeong Jeomsik Meets Business Leaders: "Yellow Envelope Act Must Be Revised... Amendment to Be Proposed"
On July 1, Jeong Jeom-sik, Floor Leader of the People Power Party, stated, "The Yellow Envelope Act must be revised in a way that minimizes confusion in industrial worksites," adding, "We will prepare an amendment that reflects voices from the field by clarifying the definition of 'employer' and excluding illegal acts such as violent workplace occupations from the scope of protection."
At a policy meeting between the People Power Party and the Korea Employers Federation (KEF) held at the KEF Hall in Seoul that afternoon, Floor Leader Jeong said, "Politics should not hinder innovation with excessive regulation, but instead create an environment in which investment and R&D form a virtuous cycle through stable and consistent systems." The event was attended by Floor Leader Jeong, Kim Mi-ae, Senior Deputy Floor Leader for Policy, Choi Eun-seok, Senior Spokesperson, Assemblyman Park Soo-young, and Sohn Kyung-shik, Chairman of the KEF, among others.
In his opening remarks, Chairman Sohn said, "The continued high exchange rates and the spread of cutting-edge technologies, including artificial intelligence (AI), are demanding changes across the entire industrial base and employment structure." He added, "Our labor market's laws and systems are failing to keep up with the changing times, which is restricting companies' efforts to improve productivity and create new jobs."
Chairman Sohn went on to list the following urgent issues: ▲ Establishing employer defense rights to minimize side effects of the Yellow Envelope Act; ▲ Promoting reforms to the wage system and reemployment methods prior to extending the retirement age; ▲ Exercising prudence in introducing the 'Basic Act for Workers' and the 'Presumptive Employee System.'
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In response, Floor Leader Jeong pledged to push for an amendment of the Yellow Envelope Act, stating, "We will work to establish a rational labor-management order that guarantees both business stability and the legitimate rights and interests of workers." He also said, "When labor and management share reasonable rules based on trust, productivity rises and our industry can become even more competitive."
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