The Economic, Social and Labor Committee announced on the 19th that it would launch a task force to respond to tariff policies of the Trump administration on the 20th, called the "Task Force on Changes in International Trade Relations and Labor Market Response."
The task force being launched today will include officials from related organizations such as the Korea Institute for Industrial Economics and Trade, the Korea Labor Institute, the Korea Development Institute, the Korea Institute for International Economic Policy, the Bank of Korea, and the Ministry of Employment and Labor.
The Economic, Social and Labor Committee noted that the U.S. tariff policy is expected to pose difficulties for Korea's leading manufacturing industries. This could have a negative impact on the overall labor market, including a slowdown in new hiring among the youth, according to the committee's outlook.
The task force plans to identify policy tasks and social dialogue agendas focusing on ▲ the structural transition of the manufacturing industry and labor market response ▲ youth job responses ▲ improving productivity to enhance potential growth rate.
Kwon Gi-seop, the chairperson of the Economic, Social and Labor Committee, said, "The operation of this task force will serve as an opportunity to identify policy agendas that can be actively discussed following the launch of the new government."