More than half of the foreign companies operating in Korea have expressed concerns about an upcoming pro-labor law revision package that is commonly referred to as the yellow envelope law. This legislation is set to significantly expand the range of labor disputes that are considered lawful.
According to a survey commissioned by the Federation of Korean Industries (FKI), Monday, 55 percent of 100 foreign manufacturing companies here said the revision will negatively impact their operations. Mono Research surveyed foreign firms with more than 100 employees from July 26 to Aug. 6.
Positive responses accounted for 10 percent, while 35 percent of respondents said their businesses would not be affected by the law revisions.
The yellow envelope law seeks to amend the Trade Union and Labor Relations Adjustment Act to broaden the scope of legal labor disputes, enhance the 카지노 negotiating power of labor unions, and prevent employers from seeking excessive compensation for damages incurred during strikes.
It was once vetoed by President Yoon Suk Yeol and scrapped by the National Assembly last year, but a revised version of the package passed the Assembly on Aug. 5, following endorsements from the majority-holding opposition parties.
