Lee says labor flexibility top priority for recovery, growth

By Byun Duk-kun
SEOUL, May 7 (Yonhap) -- President Lee Myung-bak Thursday called for stepped up
efforts to secure labor flexibility in the market, saying failure to do so could
jeopardize all other efforts to overcome the global economic crisis.

Lee noted the country's economic conditions were beginning to improve, but said
the nation had a long way to go before a complete recovery.
"Though our economy is slowly improving, we must continue to work with caution
because conditions are still unclear," Lee said in a meeting of a special
presidential council on the economic crisis.
"The economy has gotten back on track due to the government's extensive spending
for the past year, but now it is time for the private sector to lead the way," he
was quoted as saying by his spokesman Lee Dong-kwan.
The president said one of the most urgent issues was to reform the country's
labor market.
"The issue of (securing) labor flexibility is a top priority we must achieve by
the end of the year," Lee said. "If we do not reform the labor market amid the
global economic crisis, we will surely fall behind in international competition."
A former CEO-turned-politician, the president is often criticized for what his
opponents call a pro-business stance.
Lee recently praised the country's labor organizations for following their
agreement earlier in the year to cut wages and working hours under a voluntary
job-sharing campaign.
bdk@yna.co.kr
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