Monday, March 17, 2025

Thrills in Tokyo: Korean Team’s Last-Minute Free Throw Seals Dramatic Win!

The rejuvenated South Korean national basketball team...

Intel Shares Gain 2% After Strong Earnings, But Soft Outlook Puts Pressure on Stock

Intel's earnings beat expectations, but a weaker forecast for the next quarter led to modest after-hours gains in stock price.

Elon Musk Dances His Way to Victory at Tesla Shareholder Meeting!

WSJ reported that Tesla CEO Elon Musk celebrated his victory in a wage vote by dancing on the stage of the general meeting.

South Korea’s Long Work Hours Are an Obstacle to Global Competitiveness, Says Lee Jae Myung

WorldSouth Korea’s Long Work Hours Are an Obstacle to Global Competitiveness, Says Lee Jae Myung

On Monday, Lee Jae Myung, leader of the Democratic Party of Korea, stated, “The low birth rate leading to a national extinction crisis stems from an uncertain future and despair.”

During his speech at the National Assembly in Yeouido, Seoul, Lee emphasized that society, rather than parents, should now be responsible for birth and child-rearing, which are crucial for the community’s survival. 

He further argued that the era of advanced technology, symbolized by AI, will fundamentally transform traditional labor and welfare systems concepts. Lee stressed that while AI and new technologies may increase productivity, reducing labor’s role and share is inevitable.

Lee contended that improving productivity through AI and advanced technology must reduce working hours. He added that prolonged forced labor is not appropriate in the era of high-tech science and technology, where creativity and autonomy are key.

He pointed out, “As of 2022, South Korea ranked 5th among OECD countries for long working hours, exceeding the OECD average (1,752 hours) by more than a month (149 hours).” Lee asserted, “The era of competing based on quantity is over. Extending working hours and exploiting labor makes surviving in fierce global competition difficult.”

Lee proposed, “To transition to a high-tech society focused on creativity and autonomy, we must reduce working hours and move towards a 4.5-day workweek, eventually becoming a 4-day workweek country.” He added, “The notion of securing international competitiveness through long hours and labor exploitation in the advanced technology sector is inherently contradictory.” 

In conclusion, Lee cautioned, “Even if we must flexibly adjust working hours in specific sectors due to special needs, it should not become a means to extend total working hours or evade fair compensation for labor.”

Check Out Our Other Content

Check Out Other Tags:

Most Popular Articles