The Korean government is pushing to launch a wage peak system，… as part of efforts to help young people find jobs.
Finance Minister Choi Kyung－hwan… described it as a job－sharing program designed to boost youth employment， while providing older employees with job security.
Under the system， the wages of older employees would be reduced when they reach a certain age.
The money saved would then be used to hire more young people.
According to the minister，… roughly 500－thousand young people enter the job market every year， but less than half are hired for regular positions.
Choi also vowed to help companies cover potential losses associated with implementing the system.
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The Korean government is pushing to launch a wage peak system，… as part
of efforts to help young people find jobs.
Finance Minister Choi Kyung－hwan… described it as a job－sharing program
designed to boost youth employment， while providing older employees with
job security.
Under the system， the wages of older employees would be reduced when they
reach a certain age.
The money saved would then be used to hire more young people.
According to the minister，… roughly 500－thousand young people enter the
job market every year， but less than half are hired for regular positions.
Choi also vowed to help companies cover potential losses associated with
implementing the system.