The revision is meant to protect older workers. Many companies impose retirement ages of 55 and many even impose lower retirement ages.
The revision will still need to make its way through two committees and, also, reach a vote on the National Assembly floor.
Other articles that may be of interest:
- Terminate/Layoff of Employees in Korea
- Korean Independent Contractor Risks under Korea LSA
- The Ten Commandments of Labor Relations in Asia
- Korean Labor Relations by Tom Coyner
- There Goes the Neighborhood: Samsung “Union” Allowed to Protest in Front Of Samsung
Sean Hayes may be contacted at: SeanHayes@ipglegal.com.
Sean Hayes is co-chair of the Korea Practice Team at IPG Legal. He is the only non-Korean to have worked as an attorney for the Korean court system (Constitutional Court of Korea) and one of the first non-Koreans to be a regular member of a Korean law faculty.
- Mandatory Retirement Age of 60 may be Mandatory for Most Companies in Korea
- Transfer of Employee in Korea to Lower Position in Company May not be Wrongful Termination: Seoul High Court Precedence
- Tax Incentives May Decrease for Foreign Companies doing Business in Korea: Tax Law Updates
- Korea Expands Definition of Discriminatory Treatment for Non-Regular Workers: Employment & Labor Law Update
- Hyundai Motors on the Fast Track to a 45,000 Employee Strike
- Samsung’s Shareholdings Explained by Wall Street Journal
- “Cause” Needed to Terminate During Probationary Period in Korea?
- Enforcement Decrees are Becoming more Common in South Korea
- South Korea moves to Remove Statute of Limitation on Murder
- Samsung Threatens Suit Over Reports of Chairman’s Condition
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