• Korean Journal of Labor Studies
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• v.14 no.2
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• pp.1-21
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• 2008

1989~91년과 2004~7년에 이루어진 법정근로시간 단축이 실근로시간과 고용, 실질임금에 미친 영향을 분석했다. 통상적인 회귀분석과 벡터오차수정 모형을 병행해서 추정한 결과 확인된 사실은 다음과 같다. 첫째, 법정근로시간 단축으로 실근로시간과 월근로일수가 감소했다. 법정근로시간을 10% 단축할 때 실근로시간은 8.0% 감소하고 월근로일수는 3.0% 감소했다. 둘째, 법정근로시간 단축에 따른 실근로시간 단축은 고용증가로 이어졌다. 근로시간을 10% 단축할 때 단기적으로는 고용증가 폭이 미미하지만, 장기적으로 취업자는 8.5%, 노동자는 13.1% 증가했다. 셋째, 실근로시간 단축으로 시간당임금은 증가했다. 즉 실근로시간이 10% 단축될 때 시간당임금은 장기적으로 13.3% 증가했다. 그러나 월임금총액은 유의미한 영향을 받지 않았다.

• Journal of Labour Economics
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• v.37 no.1
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• pp.1-28
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• 2014

We use a set of Korea panel data to estimate effects of legal working hours reduction on actual hours worked and employment effects, through panel econometrics methods. Taking account of sequential decrease in legal hours worked since 2004, we estimate the relationship between legal and actual working hours by size of industries. It is found that one hour reduction of legal hours per week caused 0.44 to 1.05 actual hours worked on average per week, depending on different industrial sizes. Also, estimated employment effects were not unanimously determined, rather they turn out to be clearly size-dependent, which provide different results from exiting literature. Our analysis proposed in this work can be restrictive as, for instance, there is significant lack of data for foreign workers, particularly in the small-sized industries. Subsequent empirical analysis is expected.

• Journal of Labour Economics
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• v.25 no.2
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• pp.33-78
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• 2002

This study analyzes effects of the proposed reduction of legal working hours in Korea in which base wage is unchanged with working hours reduction. The theoretical analysis shows that a reduction of legal working hours would result in less than equal size reduction of actual working hours, and increase in wages. On the other hand, the effects on employment is ambiguous depending on the substitution effect and scale effect. An empirical analysis based on macro-economic model simulation supports the theoretical conjecture. It has been found that with the reduction of legal working hours, real wages and consumption increase while actual working hours decreases about half of the legal hours reduction. In addition, the immediate and outright imposition of legal hours reduction on all sectors of the economy is found to create a cost push inflation and reduce GDP, investment, and employment. This negative effects are lessened as the reduction of legal hours is gradually made and/or some measures to absorb the cost shock such as abolition of paid monthly leave are employed together.

• Journal of Labour Economics
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• v.25 no.3
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• pp.1-34
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• 2002

This paper investigates the effects of hours reduction on growth, investment, and consumption as well as employment. We adopt the basic framework of the indivisibility of labor developed by Hansen (1985) and Rogerson (1988) and extend it by allowing heterogeneity of workers in productive efficiency. On the basis of monthly panel data constructed from Economically Active Population Surveys and Household Income and Expenditure Surveys, we estimate the value of productive efficiency parameter of newly hired workers relative to existing workers by considering differences between the two groups in unobservable as well as observable worker characteristics. Numerical simulation of steady states demonstrates that reduction of statutory weekly hours from 44 to 40 leads to a rise in employees by 4.9 percent. However, GNP, investment, and consumption are all reduced by 2.03 percent, which is attributed to reduction in the amount of effective labor input, which in turn comes from reduction of actual average hours and productivity differences between exiting and newly hired workers.

• Journal of Labour Economics
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• v.36 no.1
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• pp.1-44
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• 2013

This paper surveys the existing literatures on labor demand of Korea. It has been found that labor and capital are substitutes in Korea and the result holds even if labor is decomposed into white collar and blue collar workers. The elasticity of substitution lies between 0 and 1. It is yet unclear if employment and work hours are substitutes. The reduction of legal work week did not increase employment although decreased work hours. The labor demand elasticity is below 0.5 in the short run. Since mid 1990s, the technological change has shown skill bias and therefore increased demand for skilled labor.

• Journal of Venture Innovation
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• v.4 no.2
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• pp.97-108
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• 2021

Labor contracts appear in form as an exchange relationship between labor products and wages, but since they transcend the level of simple barter, they can be economically identified as "trading" and can be identified as "rental." From a legal point of view, a legal device that legally supports and imposes binding force on commodity exchange relations is a contract. Such a labor contract led to a relationship in which wages were received and a certain amount of time was placed under the direction and supervision of the employer as a counter benefit to the receipt of wages. Since working hours are subordinate hours with one's labor under the disposition authority of the employer, long hours of work can be done for the health and safety of workers and furthermore, it can be an act that violates the value to enjoy as a human being. The reduction of working hours needs to be shortened in terms of productivity and enjoyment of workers' culture so that they can expand and reproduce, but users' corporate management labor and production activities should also be compatible compared to those pursued by capitalist countries. Working hours can be seen as individual time and time in society as a whole, and long hours of work at the individual level are reduced, which is undesirable at the individual level, but an increase in products due to an increase in production time at the social level can help social development. It is necessary to consider working hours in terms of finding the balance between these individual and social levels. If the regulation method of working hours was to regulate the total amount of working hours, flexibility and elasticity of working hours are a qualitative regulation method that allows companies to flexibly allocate and organize working hours within a certain range of up to 52 hours per week. Accordingly, it is necessary to shorten working hours, but expand and implement the flexible working hours system according to the situation of the company. To this end, it is necessary to flexibly operate the flexible working hours system, which is currently limited to six months, handle the selective working hours by agreement between employers and workers, and expand the target work of discretionary working hours according to the development of information and communication technology and new types based on the 4th industrial revolution.

• Korean Journal of Labor Studies
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• v.17 no.1
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• pp.37-70
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• 2011

The 40-hour work week system has brought positive impact on shortening working hours, eliminating long-time work, increasing leisure-time with family, etc. And this has brought about an increase in leisure-life satisfaction and happiness level. The type of leisure activities has changed from passive activities such as rest to active activities such as sports, tourism. And the 40-hour work week system has positive impact on social activities such as participation in volunteer work and, club activities. Thus all efforts need to be made to establish 40-hour work week system as soon as possible in all workplace. Firstly, 40-hour work week system needs to be introduced to every workplace with less than 5 persons, enlarge 5-day school week system into every primary and secondary school, and create conditions for positive leisure activities. Secondly, labor standards supervision and administration needs to be strengthened to eliminate long-time work over 52 hours per week, below-minimum wage work.