The Korea Employers Federation (KEF) was established on July 15, 1970, to bring industrial peace and rational business management.
The KEF has been continuously working hard to build harmonized industrial relations and economic development amidst rising industrial disputes in 1980s, the economic crisis in 1997, and the global financial crisis in 2007.
However, Korea is facing significant labor issues nowadays such as ordinary wage, reduction of working hours, non-regular work, wage system improvement, and extending retirement age, the rigidity and the dual structure of the labor market which have negatively affected job creation. In this light, the KEF will strengthen its roles with a special focus on the followings.
First, the KEF will restructure the labor market structure to be future-oriented.
The KEF will work hard on improving inefficient wage system and enhancing labor market flexibility in the direction of invigorating the labor market. In particular, we will actively take part in tripartite discussions with sense of responsibility and also take the initiatives in improving labor laws, principles and practices for sustainable development of the economy and society.
We will support Korean companies to actively respond to the rapid changes in the world economy and lay the foundation to improve national competitiveness.
Second, the KEF will contribute to job creation through balanced development in manufacturing industry and service industry.
Now, job creation is the top priority so that we all have to work on. In fact, wage inequality, generational conflicts, growing household debts, and economic recession due to weak domestic demand are all caused by stagnant job creation. In this situation, job creation is a core value which is not only the ultimate goal of economic growth, but also the best welfare to integrate the society.
Third, the KEF will enhance competitiveness of industrial relations to a higher level.
We are having hard times due to labor disputes every year in workplaces and recorded the lowest rank in international institutions’ evaluation of industrial relations competitiveness although we are trying our best in various sectors such as economy, education, and R&D in order to enhance international competitiveness.
The KEF will end these industrial conflicts and confrontations by asserting all efforts to promote a new and competitive labor and management relationship through compromise and dialogue.
Fourth, the KEF will become an economic organization to lead changes and innovations of companies.
The KEF will not only be the voices for businesses, but also be a reliable partner which help companies to break through crisis with changes and innovations, and an assistant to help out with advising hard truth when companies are in need.
Also, the KEF will play an active role to create environment conducive to companies that are loved by citizens through promoting a harmonious labor-management culture and transparent management as well as raising awareness of the principles of market economy.