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Flexibility, instability and institutional insecurity in Korea labor market

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Frame of Image bor market flexibility; the deregulation of dismissal law and the liberalization of the legal restraints for hiring irregular workers. As for the deregulation of dismissal law, the initiative was introduced in order to relax limitations on employers' use of discretion in relation to employment adjustment. We demonstrate that the disorderly manner in which this change was introduced, may in fact have led to employer opportunism. The other cornerstone in government policy for labor market flexibility was the liberalization of the legal restraints for hiring irregular workers. Institutional insecurity in Korean irregular employment provides essential loopholes that enable employers to exploit or evade their legal obligations. These loopholes, a poor monitoring system and ill-defined legal terms loopholes appear to provide an excellent breeding ground or “hotbed” for extensive opportunism. The analysis in this paper may be useful in the development of policy guidelines for other developing countries which seek to promote flexibility. Any institutional insecurity paves the way for opportunism on the part of either employers or employees, and raises transaction costs in the labor market.
Flexibility, Instability and Institutional Insecurity in Korea Labor Market
145
Contents
Chapter 1. Introduction ····························································································································· 145 Chapter 2. Instability in Korean Labor Market: Compariso


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Title Flexibility, instability and institutional insecurity in Korea labor market
Similar Titles
Material Type Proceedings
Author(English)

Cho, Joonmo

Publisher

[Seoul] : Korea Development Institute

Date 2003
Pages 36
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Social Development < Employment
Holding KDI; KDI School
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