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President Park Geun-hye called Monday for smoother labor-management relations, saying they are a key condition for raising the country's employment rate to 70 percent, one of her major campaign promises ahead of last year's election. Migrate to GermanyPark said advanced countries like Germany and the Netherlands were able to raise their employment rates based on "stable labor-management relations and a grand compromise" between labor, management and the government, Park said during a weekly meeting with senior secretaries. "Government efforts alone have limits in reaching an employment rate of 70 percent. We can push for it in a speedy manner when there is a grand labor-management-government compromise on a pile of pending issues in the labor market and labor-management relations," she said. The remark came as the government seeks to address business concerns over the financial burdens they have to shoulder if bonuses are included as part of the "usual wage" for workers, which is used to determine retirement pay and other allowances. Government regulations stipulate that bonuses should be excluded from the ordinary wage unless they are paid on a monthly basis. Court decisions, however, overturned the rule, sparking concerns among companies that the decision, if established as standard practice, could place too much financial burden on them. Later in the day, Labor Minister Phang Ha-nam proposed that the management, labor and government hold a meeting to discuss the issue, saying the sides should find a "solution to swiftly settle conflicts and confusion surrounding an ordinary wage regulation." According to government data announced last week, South Korea's jobless rate fell to 3.2 percent in April from a month earlier. Job creation also picked up speed, with the number of employed people standing at 25.1 million in April, up 345,000 from a year earlier. The data showed that the number of the country's overall employment rate stood at 59.8 percent last month, up 0.1 percentage point from a year earlier. The number of unemployed people also fell by about 70,000 to 825,000 last month. Source: http://www.globalpost.com/dispatch/news/yonhap-news-agency/130520/park-employment-rate-0

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