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Pres. Lee Urges Wage Cuts to Create Jobs

Posted January. 16, 2009 07:58,   


President Lee Myung-bak yesterday suggested wage cuts to promote job creation under a "job sharing" program, presidential spokesman Lee Dong-kwan said yesterday.

In a meeting of the Emergency Economy Management Council, President Lee said, "It is important to deal with youth unemployment, but the most urgent issue now is to create jobs for the heads of households."

He also positively responded to the suggestion of Kim Ki-hwan, vice chairman of the National Economic Advisory Council, who proposed lowering base monthly wages for public servants who graduated from university.

The government accordingly plans to provide incentives to corporations that adopt the “job sharing” program.

mhpark@donga.com ceric@donga.com