Labor Minister Lee Ki-kweon has pledged to resubmit legislation aimed at reforming South Korea's labor market to the incoming 20th parliament.

During a press brief at the ministry’s offices in Sejong Sunday, Lee said that the government feels a sense of heavy responsibility for failing to pass reforms in the parliament.

Lee urged the incoming batch of lawmakers set to take office later this month to pass the reforms in the face of youth unemployment rates at a record high and rising unemployment for senior workers. 

He said lawmakers should take into account the pain that unemployed youth, senior workers and laid-off workers are suffering.

Lee added that public institutions and state-run financial firms should adopt incentive-based wage systems to help resolve growing youth unemployment rates. He said permanent employees at the public firms, state-run financial institutions and conglomerates objecting to the wage systems would leave the problem of the rising youth jobless rate unsolved.