South Korea's financial watchdog said Monday it will present comprehensive measures later this month to give permanent jobs to temporary workers currently employed at state-run institutions.
The move comes as the Moon Jae-in government is pushing ahead with the implementation of his presidential campaign pledge to reduce the number of nonregular workers and increase employment of regular workers.
Officials at the Financial Services Commission (FSC) said guidelines will be set for the full-time employment of some temps.
Of the 21,630 employees at state-run financial institutions, about 6,000 are working as temporary workers, the officials said. They added that about 1,000 nonregular workers should be able to get permanent worker status by the end of the year.
The total breaks down to 420 at the Industrial Bank of Korea, 150 at the Korea Credit Guarantee Fund, 121 at the Korea Development Bank, 118 at the Korea Housing Finance Corp., 84 at the Korea Depository Insurance Corp., 74 at the Korea Securities Depository and 12 at the Korea Asset Management Corp.
The FSC will expedite permanent employment of the temporary workers, including dispatched labor, if contracting firms and their subcontractors agree to the switch.
FSC Chairman Choi Jong-ku recently said his agency will take the lead in increasing the number of permanent jobs in state-run financial firms so the private sector can follow suit.
Out of the 98,306 employees at the country's private financial institutions, about 25,000 are temporary workers.