President Park Geun-hye has publicly announced her plans to move the <br /><br />economy forward in South Korea during the second half of 2015. The <br /><br />most important issue at the top of her state agenda is to deal with <br /><br />labor reform in order to revive the sluggish economy. She has vowed to <br /><br />push through this issue to reduce youth unemployment. The current <br /><br />extension of the retirement age and the companies' unwillingness to <br /><br />introduce a peak wage system causes difficulty in employment for <br /><br />young adults. To prevent this issue from growing, a wage peak system <br /><br />for all public offices will be implemented within this year. It would offer <br /><br />job security, but gradually reduce the salaries of older employees after <br /><br />they reach a certain age. These efforts will eventually lead to a <br /><br />stronger economic growth and more jobs for the future generation. This <br /><br />week the Newstellers panel will discuss this reform plan in more depth <br /><br />and the problems that may arise.