grace period Archives | Be Korea-savvy
Gov’t to Grant Smaller Firms 1-year Grace Period for 52-hour Workweek Implementation

Gov’t to Grant Smaller Firms 1-year Grace Period for 52-hour Workweek Implementation

SEOUL, Dec. 11 (Korea Bizwire) — South Korea plans to give a one-year grace period to the country’s small and medium-sized enterprises (SMEs) in adopting the 52-hour workweek system, the labor ministry said Wednesday, reflecting financial concerns for the smaller firms amid an economic slowdown. The 52-hour policy was initially devised to cap the average [...]

Bus and Other Industries Given 3-month Grace Period for 52-hour Workweek

Bus and Other Industries Given 3-month Grace Period for 52-hour Workweek

SEOUL, Jun. 20 (Korea Bizwire) — Companies in the bus and other industries, obliged by labor law to implement the 52-hour workweek rule next month, will be given a three-month grace period under a government decision to allow them more time to prepare for a steep reduction in working hours, the labor minister said Thursday. [...]

Gov’t, Party Officials Agree to Introduce 6-month Grace Period for New Shorter Work Week

Gov’t, Party Officials Agree to Introduce 6-month Grace Period for New Shorter Work Week

SEOUL, Jun. 20 (Korea Bizwire) – Senior officials the ruling Democratic Party (DP), the government and the presidential office on Wednesday agreed to introduce a six-month grace period for a new shorter working hours system that is set to go into effect from next month. Under a revised law passed in February, companies with 300 [...]