KEF, Heritage Foundation chiefs discuss labor reforms

KEF Chairman Sohn Kyung-shik (left) and the Heritage Foundation President Kevin Roberts discuss labor reforms and avenues for collaboration in a meeting Tuesday in Washington.

Sohn Kyung-shik, chairman of the Korea Enterprises Federation, met with the Heritage Foundation President Kevin Roberts on Tuesday in Washington, DC, on the sidelines of President Yoon Suk Yeol’s US visit this week.

The two leaders discussed a range of topics, especially labor reforms, according to the KEF, one of the six business lobby groups in the delegation.

"Labor reform is a must, not a choice," Sohn was quoted as saying in the press release. Pointing to the US as a model for Korea to follow, he said the US "does not have unnecessary labor regulations such as overtime restrictions."

Sohn highlighted the impact of fewer restrictions, which would allow global companies to focus on entrepreneurship and technology development.

"The absence of unnecessary labor market regulations in the US has great implications for labor reform in Korea," he said.

Noting the similarities between the Heritage Foundation's "free enterprise and regulatory reform" principles and the KEF's activities, Sohn said, "We look forward to future economic cooperation with the US and Korea and cooperation in building a business-friendly environment."

The meeting follows recent debates in South Korea about increasing work hours. In March, the government withdrew a proposal to raise the cap on working hours due to widespread opposition. Sohn explained that “the proposal is meant for boosting economic vitality and creating jobs for future generations."

During his stay in the US, Sohn is scheduled to hold meetings with other local think tanks, including the Center for Strategic and International Studies and the Korea Economic Institute.

By Moon Joon-hyun(ethan_moon@heraldcorp.com)