President praises labor-employer accord

SEOUL, Feb. 24 (Yonhap) -- President Lee Myung-bak called Tuesday for continued
efforts by the entire country to overcome the ongoing economic crisis, one day
after representatives from labor and management organizations agreed on a
landmark compromise that will help save jobs, the presidential office said.
The accord was a four-way agreement, in which the labor sector agreed to freeze
or cut wages at troubled workplaces while the management promised to refrain from
layoffs, with the government and civic organizations pledging to support and
monitor the economic recovery measures.
Representatives from the four sides were invited to a lunch hosted by the
president at the presidential office Cheong Wa Dae.
"The president's key message was to thank the involved parties for their
voluntary efforts and for the four sides to set up solid plans to implement the
measure," the office said in a press release.
Lee also expressed hope that such efforts will allow the country to recover from
the ongoing economic downturn before any other nation in the world, Cheong Wa Dae
said.
bdk@yna.co.kr
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