South Korean committee approves labor reform proposal

Global Business

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In South Korea, a tripartite committee comprising labor, management, and government representatives has agreed to reforms to the country’s rigid labor market.

The move is aimed at increasing labor flexibility where job creation is a priority despite the economic slowdown. The agreement comes after a year of tough negotiations and it still faces stiff opposition.

CCTV’s U-Jean Jung reports from Seoul.

South Korean committee approves labor reform proposal

South Korean committee approves labor reform proposal

In South Korea, a tripartite committee comprising labor, management, and government representatives has agreed to reforms to the country's rigid labor market. The move is aimed at increasing labor flexibility where job creation is a priority despite the economic slowdown. The agreement comes after a year of tough negotiations and it still faces stiff opposition. CCTV's U-Jean Jung reports from Seoul.

More Details:

  • More than 3,000 union members joined this demonstration against the labor reform proposals.
  • The agreement is aimed at creating more jobs for young people at a time when the country is struggling with youth unemployment, standing at 10.3 percent in the first quarter. It’s the highest in 16 years.
  • More than a hundred state-run corporations have agreed to adopt the scheme, already common in Japan. Energy giant, Korea Hydro & Nuclear Power is one of them.

Phil Eskeland analyzes South Korean reforms

CCTV America’s Elaine Reyes interviewed Phil Eskeland, executive director of the Korea Economic Institute of America about the reforms.

Phil Eskeland analyzes South Korean reforms

Phil Eskeland analyzes South Korean reforms

CCTV America's Elaine Reyes interviewed Phil Eskeland, executive director of the Korea Economic Institute of America about the reforms.


Eunjung Lim discusses nuclear tension with DPRK

Elaine Reyes also interviewed Eunjung Lim, lecturer of Korea Studies at Johns Hopkins School of Advanced International Studies, about growing nuclear tension with the DPRK.

Eunjung Lim discusses nuclear tension with DPRK

Eunjung Lim discusses nuclear tension with DPRK

Elaine Reyes also interviewed Eunjung Lim, lecturer of Korea Studies at Johns Hopkins School of Advanced International Studies, about growing nuclear tension with the DPRK.