'Yellow Envelope Act' passed in plenary session led by the ruling party… to be enforced in 6 months

The Office of the President stated on the 24th that it "welcomes" the passage of the so-called 'Yellow Envelope Act' (amendment to Articles 2 and 3 of the Labor Union Act) in the National Assembly plenary session, which was led by the ruling party.

An official from the Office of the President met with reporters that day and said, "This is the first labor-related bill passed since the inauguration of the Lee Jae-myung administration."

Regarding concerns raised by the business community, the official noted that unlike the previous Yellow Envelope Act, which was vetoed by the Yoon Suk Yeol administration, the contents of this bill have been refined to minimize side effects.

"While there are significant concerns that businesses might leave, this passed bill limits the scope of labor disputes to 'decisions on working conditions and management decisions that directly affect working conditions,' focusing only on areas where they can have a practical impact," the official explained.

The implication is that, unlike the previously proposed Yellow Envelope Act, which included all disagreements regarding 'working conditions' as labor disputes, this version reduces the scope of the concept to mitigate the risk of excessive industrial actions.

The presidential official said, "Isn't it understandable that business leaders argue against including every aspect related to working conditions in labor disputes?" and added, "We have crafted the bill to allow for some room for interpretation by companies as well."

In addition, the official added, "There is a six-month preparation period," and "The government will also continue to collect opinions from labor and management to ensure the law settles in smoothly."