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Panel Votes Not to Differentiate Minimum Wage by Industry Next Year

Panel Votes Not to Differentiate Minimum Wage by Industry Next Year

SEOUL, June 17 (Korea Bizwire) — A tripartite panel tasked with determining next year’s minimum wage has agreed not to apply different rates to different industries, maintaining the current system, officials said Friday. The Minimum Wage Commission, which is composed of 27 representatives, nine each from labor, business and the general public, met at the [...]

Paid Leave, Minimum Wage Guaranteed for Domestic Workers

Paid Leave, Minimum Wage Guaranteed for Domestic Workers

SEOUL, May 27 (Korea Bizwire) – The four major social insurances and minimum wage will be guaranteed for domestic workers in South Korea. The Ministry of Employment and Labor announced that a revised enforcement ordinance of the Domestic Worker Act passed a Cabinet meeting on Thursday. The revised enforcement ordinance stipulates that domestic workers should [...]

Moon Gov’t Fails to Deliver on Minimum-wage Promise amid Pushback, Pandemic

Moon Gov’t Fails to Deliver on Minimum-wage Promise amid Pushback, Pandemic

SEOUL, July 13 (Korea Bizwire) — The Moon Jae-in administration is set to end its term having failed to deliver on its promise to raise the minimum hourly wage to 10,000 won (US$8.74) due to strong pushback from businesses and the unprecedented challenges posed by the COVID-19 pandemic. The Minimum Wage Commission, a tripartite panel [...]

Next Year’s Minimum Wage Set at 9,160 Won in 5.1 pct On-year Increase

Next Year’s Minimum Wage Set at 9,160 Won in 5.1 pct On-year Increase

SEOUL, July 13 (Korea Bizwire) — A national commission on Monday set next year’s minimum hourly wage at 9,160 won (US$7.98) in a 5.1 percent on-year increase. The Minimum Wage Commission, which is composed of nine members each from labor, business and the general public, struck the agreement around midnight during a plenary session held [...]

Next Year’s Minimum Wage Set at 8,720 Won in Smallest-ever Increase

Next Year’s Minimum Wage Set at 8,720 Won in Smallest-ever Increase

SEJONG/SEOUL, July 14 (Korea Bizwire) — A national commission on Tuesday set next year’s minimum hourly wage at 8,720 won (US$7.25), raising the legal threshold by the smallest-ever annual increase, as the country faces economic headwinds from the new coronavirus. Up to 4 million workers, whose current hourly wage is lower than the amount, will [...]