minimum wage Archives | Be Korea-savvy
Getting a Part-time Convenience Store Job Almost Impossible

Getting a Part-time Convenience Store Job Almost Impossible

SEOUL, Jan. 21 (Korea Bizwire) — According to convenience store industry watchers on Sunday, it has become almost impossible to find part-time work at convenience stores due to the increase in the minimum wage this year. With sales declining due to a sluggish economy and excessive competition, convenience store owners are having trouble paying part-time [...]

Over Half of Koreans Predict Negative Economic Effect from Minimum Wage Hike

Over Half of Koreans Predict Negative Economic Effect from Minimum Wage Hike

SEOUL, Jan. 18 (Korea Bizwire) — More than half of South Koreans think this year’s minimum wage hike will have a negative effect on the economy, a survey showed Friday. The poll of 1,002 adults nationwide by Gallup Korea found 52 percent of people predict negative economic effects from the latest minimum wage increase. Only [...]

Mom-and-pop Stores Ask Gov’t to Reflect their Views in Setting Minimum Wage

Mom-and-pop Stores Ask Gov’t to Reflect their Views in Setting Minimum Wage

SEOUL, Jan. 7 (Korea Bizwire) — South Korea’s mom-and-pop stores on Monday called on the government to reflect their views in revising the minimum wage structure so as to minimize the fallout from rising labor costs. In a press conference held in Seoul, Choi Seung-jae, chairman of the Korea Federation of Micro Enterprise, whose organization [...]

Self-employed People Face Gloomy Outlook

Self-employed People Face Gloomy Outlook

SEOUL, Jan. 2 (Korea Bizwire) — Small business owners in South Korea may face a bumpy road again this year despite a series of government measures to support them, industry watchers said Wednesday. The year 2018 was one of the worst years for self-employed people in Asia’s fourth-largest economy as they were hit hard by [...]

Conflict Between Gov’t, Biz Owners Escalates on New Wage Calculation System

Conflict Between Gov’t, Biz Owners Escalates on New Wage Calculation System

SEOUL, Dec. 30 (Korea Bizwire) — The conflict between the government and business owners has intensified in South Korea ahead of the scheduled implementation of a new wage system that obligates employers to give paid leave to workers, industry watchers said Sunday. Under South Korean law, an employer must provide employees with paid leave depending [...]

Length of Service Wage Gap Higher in S. Korea than Japan

Length of Service Wage Gap Higher in S. Korea than Japan

SEOUL, Dec. 26 (Korea Bizwire) — Amid the controversy over the revision of the minimum wage act, which includes a weekday off, South Korean companies are facing a complicated wage system. At the same time, South Korean companies have shown greater flexibility with wage increases than in Japan, meaning wages will naturally increase as service [...]

Minimum Wage Hike Improves Productivity in Manufacturing Sector

Minimum Wage Hike Improves Productivity in Manufacturing Sector

SEOUL, Dec. 14 (Korea Bizwire) — An increase in the minimum wage has helped improve productivity at South Korean manufacturing firms in general, but its impact varied by sector and size of business, a report said Friday. South Korea’s minimum wage has gradually increased since the government first implemented the policy in 1988. Between 2011-2016, [...]

7 out of 10 Small Businesses “Unable to Cope with Minimum Wage Hike”

7 out of 10 Small Businesses “Unable to Cope with Minimum Wage Hike”

  SEOUL, Jul. 23 (Korea Bizwire) – A majority of small business owners in South Korea are considering reducing staff after being having difficulty coping with the government’s recent minimum wage hikes, the latest of which is set to come into effect next year. According to a survey of 300 small business owners and vendors [...]