Minimum Wages In South Korea And Shortened Working Hours Policies

- Apr 20, 2018-

It has been pointed out that "bonus" is still the most controversial point. If only "monthly bonuses" are included in the calculation, there will be different treatment depending on the "every month" and "monthly" issuance mode of the enterprise. The Korea Minimum Wage Commission initiated a labor consultation in March this year to discuss whether or not to include “regular bonuses” in the calculation of the minimum salary. Since the negotiation failed, the issue was subsequently submitted to the National Assembly for review. It was unexpected that the Congress was in the process of broadcasting law. Such cases were in opposition to the opposition and the progress was suspended. South Korean small and medium-sized and backbone enterprises criticized that the National Assembly should pass a resolution as soon as possible so that the company can look for solutions accordingly.

There has been no progress in improving the “shorten working hours” policy. On the 10th, Li Sook, the vice minister of the Ministry of Employment and Labor of South Korea, said that the “Flexible Work Hours System” of related supporting measures will implement a questionnaire survey from the second half of this year. South Korea’s industry has criticized that since July this year, large companies with more than 300 employees must formally import and shorten labor time policies. The government’s actions and decision-making are slow, and it has not taken into account the adaptation time of private industry-type enterprises.