Deputy Prime Minister and Finance Minister Koo Yun-cheol said Tuesday that the labor union reform measure known as the yellow envelope bill should apply only in limited situations that directly affect working conditions, such as mass layoffs.

Speaking at a National Assembly Strategy and Finance Committee meeting, Koo addressed opposition concerns that the bill could broaden labor disputes to include management decisions and restrict business activity.

He stressed the government will establish standards to avoid placing excessive burdens on companies, warning that amplifying fears surrounding the bill could undermine the economy.

The ruling Democratic Party plans to bring the bill to a vote during the August parliamentary session.

Koo also rejected criticism that the government’s economic policy is “amateurish,” insisting it aims to promote growth and more transparent labor relations at the same time.