The maximum weekly work hours were reduced to 52 hours pursuant to the Labor Standards Act, which was revised in March 20, 2018, and implemented from July 1, 2018, which increased the legal risks of companies’ civil and criminal liabilities in relation to the overtime work. In particular, securities companies need to manage employees’ work hours and establish a work system appropriate for each team's work patterns in consideration of the fact that work hours of the employees are linked to the opening and closing hours of the stock market, frequent work outside, business trips and dinner meetings depending on each team or the workload is concentrated at a certain point in time.

DR & AJU reviewed the overall HR system of our client to identify problems and provided solutions for the management of work hours as follows: ▲ reviewing HR related regulations and agreements, including organizational charts, employment rules, HR regulations, collective agreements and employment agreements ▲ preparing questionnaires based on a review of HR related data and conducting detailed interviews with the heads of 28 teams ▲ after reviewing work hour management status through data review and face-to-face survey, identifying work hour related issues per each team ▲ legal review of each issue and providing improvement measures of work hours management.

DR & AJU reviewed and analyzed for the provision of accurate solutions and advised on legal proceedings such as amends of employment rules and labor-management consultation for the following issues:

(1) Introduction of a system for measuring actual work hours, such as prior application for or post approval of overtime work and PC off rule;

(2) Review of company-wide measures of the followings to reduce work hours: ① change of work hours, ② expansion of lunch hours, ③ change of meeting and in-house broadcasting time, ④ fixed OT (Out Time) payment plan, ⑤ introduction of comp time plan, ⑥ introduction of deemed work hours plan;

(3) Measures for domestic and overseas business trip to comply with the Labor Standards Act;

(4) Measures for dinner meetings and golf in weekends to comply with the Labor Standards Act; and

(5) Introduction of modified work systems (flexible work hours, selective work hours, discretionary work hours, deemed work hours for outside work, comp time plan, staggered work hours, etc.)

With the growth of concerns of companies in relation to HR management due to the revision of the Labor Standards Act 2018 which requires the reduce of work hours, these services provided by DR & AJU are meaningful in that DR & AJU has investigated and analyzed the work hours of an investment securities company in detail and worked out reasonable solutions under the Labor Standards Act to provide customized solutions for each department and reviewed and arranged various HR related regulations and contracts such as employment rules.