S. Korean president calls for wage cuts, job-sharing

SEOUL, Jan. 15 (Yonhap) -- South Korean President Lee Myung-bak called for wage
cuts on Thursday to create more jobs, one day after a government report showed
the country's employment market shrank for first time in over five years.
"The most urgent issue on our hands is to create jobs for the heads of
households," the president was quoted as saying at a meeting of the Emergency
Economy Management Council. The presidential body was set up last week to paddle
the country out of the economic crisis.
Lee suggested the government promote "job-sharing" among workers, according to
the presidential office spokesman.
"I believe we should think of ways to promote job-sharing by cutting wages," the
president was quoted as saying by spokesman Lee Dong-kwan. The president added
that wage cuts would prompt employers to hire more workers.
The remarks come one day after the National Statistical Office said the country
lost 12,000 jobs last month, marking the first contraction since October 2003.
bdk@yna.co.kr
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