minimum wage Archives | Be Korea-savvy
11 pct Rise in Employees with Fewer than 15 Hours of Work per Week

11 pct Rise in Employees with Fewer than 15 Hours of Work per Week

SEOUL, Mar. 18 (Korea Bizwire) — Employees with fewer than 15 hours of work hours per week increased in number last year, while they shrank in size in the wholesale/retail and food/lodging industries. The results overturn prior expectations that the higher minimum wage has forced employers in the wholesale/retail and food/lodging industries to hire workers [...]

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 [...]