Minister of Employment and Labor says both “extension of retirement age” and “peak wage system” need to be implemented together

Minister of Employment and Labor Kim Moon-soo appeared on KBS 1TV's 'Sunday Diagnosis' today and stated that "extending the retirement age is a trend of the times," adding that he agreed with its the necessity.

However, Minister Kim emphasized, "Given the serious youth unemployment, the peak wage system must also be implemented." He further stated, "There are many challenges, but the government will support and facilitate dialogue so that labor and management can reach an agreement at the Economic, Social and Labor Council."