SEOUL– Prime Minister Han Duck-soo said Monday the government will keep up the pace of labor, education and pension reforms this year, in an effort to increase productivity and revive the economy.
“We will carry out in earnest the three major reforms of labor, education and pension, and the three major innovations of the finance, service and public sectors,” Han told the government’s kick-off ceremony for the new year.
“In particular, labor reform will succeed without fail,” Han said.
Han said South Korea’s labor market is lagging behind big technology developments called the Fourth Industrial Revolution.
“Above all, we want to accelerate structural reforms to improve productivity and strengthen efficiency,” Han said.
The government has lowered the nation’s 2023 economic growth outlook to 1.6 percent as the economy braces for the impact of global monetary tightening moves and weaker exports.
Han said the government will put its priority on easing the burdens of inflation and high interest rates for vulnerable people.
The government also will strengthen policy support for small and medium-sized firms and self-employed people, Han said.
Source: Yonhap News Agency