Seoul: President Lee Jae Myung will host an event commemorating Labor Day on Friday at Cheong Wa Dae with South Korea's two major umbrella labor unions, the presidential office said Thursday. This marks the first time a Labor Day event has been held at Cheong Wa Dae, and the first occasion where both unions from different political spectrums-the Federation of Korean Trade Unions and the Korean Confederation of Trade Unions-participate together.

According to Yonhap News Agency, Friday's event will bring together around 120 participants, including key figures from labor, management, and government, as well as workers from various occupations, to mark the occasion. "President Lee, who once worked as a 'child laborer,' will reflect on the meaning of the restored Labor Day, empathize with the value of labor and express gratitude for workers' dedication," Cheong Wa Dae said in a release.

South Korea initially observed Labor Day on May 1 before it was renamed "Workers' Day" in 1963. The government restored the name to Labor Day last year and designated it as a national holiday earlier this month, allowing all workers to take the day off.

In his commemorative address, Lee is expected to outline the government's labor policies, such as enhancing workplace safety to reduce industrial accidents and redistributing the gains of economic growth.