Regarding Legislation to Extend the Mandatory Retirement Age: A Conversation between Dr. Jun-Ki Han and Labor Attorney Bongsoo Jung
Regarding Legislation to Extend the Mandatory
Retirement Age: A Conversation between Dr. Jun-Ki Han and Labor Attorney
Bongsoo Jung
In 2013, the mandatory retirement age system was
introduced in Korea, requiring employers that establish a mandatory retirement
age to set it at 60 or older. Average life expectancy has increased by
approximately 20 years, and many workers now remain healthy enough to continue
working in the workplace until the age of 70. In particular, as the eligibility
age for receiving the National Pension has been extended to 65, both management
and labor agree on the need to extend the mandatory retirement age. However,
while management seeks to extend the retirement age in a way that minimizes
additional labor costs, labor unions are calling for an extension of the
retirement age without any reduction in wages.
Against
this background, Dr. Jun-Ki Han, an HR expert, and Bongsoo Jung, a Korean labor
attorney specializing in labor law, held a discussion in which they shared
their respective views on extending the mandatory retirement age.
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