Are there any aspects of labor law revisions that are especially beneficial to foreign companies?
In conformity with the revised law which introduces a flexible working hours system, labor and management can flexibly change and administer working hours in two-week or one-month cycles. Under this system, the company can determine the total hours of employment for its workers for a period of one month or less, and the workers can voluntarily choose their working days and hours as well as their starting and ending times according to their own needs. According to written agreements concluded by both labor and management, a system for replacing working days with either paid annual leave or paid monthly leave may be established. Companies are encouraged to initiate retirement pay systems designed with flexibility to meet the needs of each business. The government recommends companies introduce intermediary retirement pay systems through which workers, upon their request, are able to receive in advance severance pay for past years of employment. As of July 1st 1998, related laws on the pr
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