President Moon Jae-in on Monday praised the revision of the Labor Standards Act limiting maximum weekly working hours to 52-hours, saying that the country is taking its first steps towards dignified lives.

Speaking at the weekly meeting with his senior aides, Moon said that the revision approved by the National Assembly last week was an important step in improving the quality of life, and creating jobs.

“The lives of the people will change due to the reduction in the working hours,” Moon said, adding that the country will now move on from “the longest working hours in the OECD, and overwork deaths.” The term “overwork deaths” refers to deaths linked to strains caused by work. 

Moon added that concerns about the reduced working hours will prove unfounded, saying that the introduction of regulations limiting working hours in the past have brought positive results to the economy.

Saying that the reduction was an opportunity to create jobs, and to roll out policies for achieving a work-life balance, Moon called on his aides to develop follow up measures.

“Enabling working people to spend evenings with their families, and enabling parents to raise their children together are also critical to resolving the serious low-birth rate problem,” Moon said.

According to government statistics, the country’s birthrate fell to a record low last year.

The president also touched on the issue of the government’s minimum wage subsidy, saying that more than 1 million people have now applied. Under the Moon administration, the minimum wage was raised by 16.4 percent to 7,530 won ($6.9) this year. Moon has also pledged to raise the figure to 10,000 won per hour within his term.

By Choi He-suk (cheesuk@heraldcorp.com)