Wednesday, June 21, 2006

South Korea: Leaders Adopt Social Convention Aimed at Aging Population

Seo Dong-shin reports in The Korea Times that, after five months of discussion among business, labor, and religious and civic groups, South Korea's government has adopted a social accord aimed at battling problems arising from Korea's falling birthrate and aging population. Among other things, "labor and business circles, for their part, will attempt to create more job opportunities for women and seniors, according to the accord."

The government has also agreed to continue discussion on ways to extend the retirement age of workers, while labor and businesses will negotiate on how to improve the retirement and wages system.

Source: The Korea Times "Korea Adopts Social Pact to Battle Low Birthrate" (June 20, 2006)

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