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 [...]
SEOUL, June 14 (Korea Bizwire) — About 6,500 workers with disabilities legally earned less than the minimum wage last year, a report said Tuesday. The report from the Korea Labor and Society Institute found a total of 6,547 workers were excluded from the minimum wage rule as of August 2021. Their average monthly wage was [...]
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 [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korea has decided to raise the minimum wage of foreign crew members on local fishing boats to the level received by their Korean colleagues by 2026, the oceans ministry said Wednesday. Foreign crew members working in South Korea currently receive 9,157 won (US$7.68) per hour, some 81 percent [...]
SEOUL, Aug. 5 (Korea Bizwire) — The Ministry of Employment and Labor on Thursday published an official notice of next year’s minimum hourly wage of 9,160 won (US$8.00). The Minimum Wage Commission, a tripartite panel composed of representatives of labor, business and the general public, set the rate on July 12 in a 5.1 percent [...]
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 [...]
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 [...]
SEOUL, June 17 (Korea Bizwire) — 6 out of 10 job seekers think the minimum wage should be frozen or lowered, a local trade federation said Wednesday The Korea Federation of Small and Medium Business conducted a survey of 700 job seekers, 48.1 percent of whom said that the minimum wage for next year should [...]
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 [...]
SEOUL, June 12 (Korea Bizwire) — The annual negotiations to set South Korea’s minimum wage have never been easy. But this year, talks are expected to be more complicated, as the country is facing unprecedented economic headwinds from the new coronavirus that has cut growth and jobs. On Thursday, members of the Minimum Wage Commission [...]