Chung Sung-Jun/Getty Images
- South Korea has lowered its workweek from 68 to 52 hours.
- Larger firms that breach the new rules could be fined up to $ 17,815. Executives could face two years in prison.
- President Moon Jae-in is hoping the new hours will increase jobs, productivity, and fertility rates.
- South Korea had one of the longest work weeks in the developed world, and these “inhumanely long” hours could by why the country also has one of the lowest birth rates.
South Korea has implemented a new 52 hour work week in an attempt to stop chronic overwork.
The country is trying to promote a greater work-life balance by lowering the maximum hours people can work from 68 to 40 hours, plus another 12 hour of overtime. Smaller firms won’t need to make changes until 2020, but larger firms that breach the new rules could be fined up to $ 17,815. Executives could face two years in prison.See the rest of the story at Business Insider
NOW WATCH: Why the North Korea summit mattered even if it was ‘mostly a photo op’
See Also:
- Inside the marriage of LeBron and Savannah James, who met in high school, had their first date at Outback Steakhouse, and are now worth $ 275 million
- I waited nearly 3 hours just to walk into Toy Story Land at Disney World, and it’s something no one should ever do
- North Korean defector: Kim Jong Un ‘is a terrorist’
