SEOUL, Nov.18 (Korea Bizwire) – Research suggests that a decrease in working hours for Koreans, who currently work longer hours than almost anybody in the developed world, would lead to a drastic increase in the number of jobs created.
At the Employment Impact Assessment Debate hosted by the Ministry of Employment and Labor and the Korea Labor Institute, professor Lee Hae-chun from the Korea University of Technology and Education suggested that jobs could be created through a decrease in working hours.
According to the report, if current working hours, which are as long as 68 hours a week, are reduced to 52 hours a week, 18,500 jobs could be created in the first year of practice, and a total of 140,000 to 150,000 jobs could be created over time.
The estimated results were based on the assumption that the 26 types of businesses in which workers are allowed to work over 12 hours will be reduced to 10.
Professor Lee pointed out that there exists a need for a policy to stimulate the creation of new jobs. “In order to maximize the effects of cutting working hours on job creation from a macroeconomic point of view, the policy has to be implemented at a time when the economy is growing so that the demand for products and services is high.”
Professor Lee added that for the policy to be effective, labor and management negotiations on setting reasonable salaries, an increase in the number of part-time workers with quality skills, and a recruiting service program that provides a pool of manpower are a must.
By Kevin Lee (email@example.com)