SEOUL, Dec. 22 (Korea Bizwire) — Four out of every five self-employed people said the hike in the minimum wage could cut the number of part-timers next year, a survey showed Friday. The minimum wage is set to rise to 7,530 won (US$7) per hour next year, up 16.4 percent from the current 6,470 won. [...]
SEOUL, Oct. 18 (Korea Bizwire) — The Moon Jae-in administration will have to spend over 7.3 trillion won (US$6.4 billion) in the 2018-2020 period to subsidize the raising of the country’s minimum wage to 10,000 won ($8.8) per hour, a report said Wednesday. The Moon government said in July it will raise the minimum wage [...]
SEOUL, Aug. 8 (Korea Bizwire) — A majority of part-time workers expect they will be replaced by kiosks due to the rise in minimum wage, with those working at restaurants and cafes expressing the most concern, a portal survey said Tuesday. Alba, a portal for job seekers, asked 644 members between July 27 and Aug. [...]
SEOUL, Aug. 2 (Korea Bizwire) — More than 90 percent of small merchants plan to lay off workers because of the expected minimum wage increase next year that is disapproved by nearly all of them, a survey showed Wednesday. In the survey carried out by the Korea Federation of Micro Enterprise from July 21-28, 92.4 [...]
SEOUL, Jul. 28 (Korea Bizwire) — A business lobby representing small-sized businesses on Friday filed a complaint against the government’s decision on next year’s minimum wage hike. Earlier this month, a tripartite commission of the government, labor and management reached an agreement to increase the minimum hourly wage to 7,530 won (US$6.68) in 2018, up [...]
SEOUL, July 13 (Korea Bizwire) – July 16 is the legal deadline to set next year’s minimum hourly wage, and while members of a part-time workers organization protested for an increase to 10,000 won at Gwanghwamun Plaza Tuesday, another rally was organized by other groups that are pushing the government to freeze wages for 2017. [...]
SEOUL, July 12 (Korea Bizwire) – Kings of ancient Korea might have held infinite power, but their statues are not likely to possess similar authority. On Tuesday, members of a part-time workers organization clashed with police by the statue of King Sejong at Gwanghwamun Plaza, Seoul, demanding an increase in the minimum hourly wage to 10,000 won [...]
SEOUL, May 2 (Korea Bizwire) — The gap between the average wages of South Korea and China continued to narrow in 2015, industry data showed Sunday, apparently suggesting that South Korean products may be regaining their price competitiveness over their Chinese counterparts. In 2015, the average minimum wage in China’s five largest cities was 59.2 [...]
SEOUL, April 24 (Korea Bizwire) – About 1 out of 6 young workers in South Korea were paid less than the country’s minimum wage last year, a private think tank said Sunday, pointing to tough working conditions facing young adults already struggling with high unemployment. According to the report by the Hyundai Research Institute, some [...]
SEOUL, July 14 (Korea Bizwire) – The wage differential between general contractors and subcontractors has worsened to a critical level, and corrective measures should be applied to curb the trends. The Economic and Social Development Commission held an open forum to discuss the structural situation of prime contractors and subcontractors and its remedies for them [...]