Gov't plans to encourage job sharing among companies

SEOUL, Jan 23 (Yonhap) -- The government plans to introduce a job sharing scheme
in the public sector as part of efforts to ease a tightening labor market amid a
faster-than-expected economic slowdown, the finance ministry said Friday.

The government is also considering cutting salaries for newly-recruited workers
among state-run institutions and using the reduced expenses along with tax
incentives to encourage the private sector to join the efforts, the ministry
said.
"We are currently exploring diverse ways to encourage job sharing (both in the
public and private sectors). Currently, we cannot give details but they will
likely shape up by mid-February," a finance ministry official said on condition
of anonymity.
A separate official confirmed, saying, "The ministry is considering tax
incentives for the private sector in relation to the introduction of the job
sharing scheme." He declined to elaborate on its extent and scope.
The move comes after President Lee Myung-bak suggested last week that the
government promote salary cuts and create more jobs.
South Korea lost 12,000 jobs last month from a year earlier, the first job
contraction in more than five years, raising the nation's jobless rate to 3.3
percent, according to the National Statistical Office.
Job market conditions are feared to deteriorate as about 500,000 college
graduates are poised to join job hunters next month amid tightening labor
markets, according to local media reports.
On Jan. 6, the finance ministry announced that it will invest 50 trillion won
(US$37.87 billion) in "eco-friendly" development projects over the next four
years to create nearly one million jobs and bolster the slumping economy.
As part of efforts to enhance management efficiency in the public sector, the
ministry recently ordered 69 state-run institutions to slash about 19,000
workers, or 13 percent of their combined payrolls, over the next three to four
years.
kokobj@yna.co.kr
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