Labour law reform

South Korea’s President Park Guen-hye has stated her intention to carry out extensive reform of Korea’s out dated and inflexible labour laws. President Park wants to make it easier to dismiss low performers, base wages on merit, shorten work hours, simplify outsourcing rules and expand unemployment insurance. However, there is opposition from other parties and the trade unions. It is not clear when the new rules might be approved or in what form.
Action required: For information only.