▲ Finance Minister Koo Yun-cheol (C), who serves concurrently as the deputy prime minister for economic affairs, speaks during a meeting of economy-related ministers over the implementation of revised labor laws at the government complex in Seoul on March 4, 2026. (Yonhap)

finance minister-pro-labor bill

Finance minister vows efforts for smooth implementation of 'yellow envelope' bill

SEOUL, March 4 (Yonhap) -- The government will focus all its capabilities for smooth implementation of the revised labor law aimed at broadening the bargaining rights of workers, Finance Minister Koo Yun-cheol said Wednesday.

Koo made the remarks in a meeting with officials from government ministries related to the so-called yellow envelope bill as the legislation is set to take effect Tuesday.

The revision, passed by the National Assembly last year, was designed to guarantee the bargaining rights of indirectly employed, subcontracted workers and prohibit companies from filing lawsuits for damages or provisional seizures against unionized workers.

"We know expectations and concerns coexist ahead of the scheduled implementation of the revision," Koo said.

"But the revised labor law is aimed at promoting mutual respect and cooperation between the management and labor to establish a framework of coexistence of the two sides and support the development of the national economy."

The finance minister said the government will designate the first three months following the law's implementation as an intensive inspection period to provide guidelines and reduce unnecessary confusion.

The government will also regularly operate communication channels among labor, management and the government to collect feedback and devise support measures, while preparing for collective bargaining demands from the public sector, he added.

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