KOREA’S POLICY RESPONSES TO JOB CREATION G20 LABOUR AND EMPLOYMENT MINISTERS’ MEETING MELBOURNE, SEPTEMBER 2014

Setting the employment rate, not the growth rate, as the core national agenda Putting job creation at the center of economic, industrial, welfare, and education policies Roadmap to 70% Employment Rate –Early 60% for the past decade → 70% by 2017 Paradigm Shift in the National Administration : Job-centered Approach

Roadmap to 70% Employment Rate Strategy 1 : Creative Economy Support for creative ideas and technologies to be turned into business Support for a healthy venture ecosystem Employment Impact Assessment System

Strategy 3 : Increase the labor market participation of economically inactive population Roadmap to 70% Employment Rate Strategy 2 : Reform of working practices and working hours For youth : “Korean dual system” For women : quality part-time jobs For the poor : “Employment and Welfare Plus Centers” A virtuous cycle of work-family balance, cultural consumption, and higher domestic demand

Reducing the labor market dualism Reducing the proportion of non-regular workers Improving the working conditions of non-regular workers Employment Types Reporting System Regulatory reform and tripartite dialogue Eradicating excessive regulations hampering job creation Solving the persistent labor market problems Cooperation among labor, management, and the govt.

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