Labor Minister Kim Young-hoon met with representatives from mid-sized companies on August 7, stating, "Mid-sized companies are the backbone of our economy and play a crucial role in regional economies and quality job creation." He added, "We will closely examine the various challenges faced by these companies and strive to provide practical solutions."
During a policy meeting at the Korea Mid-sized Enterprises Association in Mapo, Seoul, Kim noted, "Mid-sized companies drive the growth of small businesses and enhance industrial competitiveness." He expressed gratitude for the efforts of mid-sized business leaders in maintaining a robust growth ladder from small to large enterprises.
This visit marks Kim's second meeting with the association since September of last year. He aimed to share key policy directions and listen to the voices of mid-sized companies, which play a pivotal role in job creation and production and export activities.
At the meeting, Kim outlined the core strategies for employment and labor policy in the second half of the year, which include: establishing safe and fairly compensated workplaces, expanding intergenerational coexistence jobs for youth and middle-aged workers, and addressing disparities to enable collective advancement in industrial transformation.
Specifically, he plans to implement intensive management of target companies and industries to eliminate repeated accidents and activate special task forces to prevent heat-related and asphyxiation accidents. Measures to expand the wage differentiation payment system to combat wage arrears and the exploitation of subcontracting processes will also be pursued.
For the youth, Kim proposed support for public jobs, new industries, and entrepreneurship in small and mid-sized enterprises, as well as expanding job experiences through the K-New Deal Academy led by large companies and establishing the K-Youth Guarantee program. For middle-aged workers, he suggested expanding re-employment support obligations and early career planning, along with discussions on extending retirement ages for intergenerational coexistence.
Regarding industrial transformation, he aims to reduce labor market disparities through measures such as equal pay for equal work, preventing the misuse of comprehensive wage systems, supporting companies that shorten actual working hours, and improving retirement benefit systems. Plans to establish a social safety net for special employment workers and freelancers, along with follow-up measures for basic employment stability in industrial transitions, are also in the works.
Kim particularly emphasized the role of mid-sized companies in youth employment, stating, "Mid-sized companies have a high proportion of youth hires and are preferred workplaces for young people. I urge them to actively participate in government support programs to expand hiring so that youth employment policies can be felt on the ground."
In response, Choi Jin-sik, president of the Korea Mid-sized Enterprises Association, remarked, "Through innovative employment and labor policy paradigms that align with the changing industrial environment, the development of companies and the fulfillment of labor must create a virtuous cycle. We need to establish a sustainable growth base that encompasses youth and future generations."
Kim concluded, "The answers to our policies are always found in the field, and I hope the association will lend its experience and wisdom as a policy partner. The government will also spare no effort in providing policy support to create an environment where companies can invest in their people."
* This article has been translated by AI.
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