South Korean unions propose minimum wage rate


Labor representatives of the Minimum Wage Commission have proposed an hourly minimum wage of 10,890 won (US $ 8.4) for 2023.

This figure represents an 18.9% increase over this year’s 9,160 won (US $ 7.1) and was revealed ahead of the commission’s plenary meeting.

Representatives said they came up with the initial figure after considering economic conditions at home and abroad, which they said demonstrate the necessity of increasing to prevent social polarization.

They said the poor and working classes are increasingly bearing the brunt of a worsening economy that faces the confluence of low growth and high inflation leading to stagflation.

The representatives stressed that the minimum wage hike must be larger than the average increase in overall wages to ease wage inequality. The commission will determine the next year’s level by narrowing the gap between what is proposed by labor and that by management.

READ: Employees in South Korea can expect to work more years

Employers have described the figure proposed by labor as excessive. “The current minimum wage is 62% of the current median wage, the figure is already one of the highest in the world, and the minimum wage has risen by more than 40% for the past five years,” the Korea Enterprises Federation said, adding, “An 18.9% increase under the circumstances is like a death sentence on small firms and individual businesses,” according to Business Korea.



Source link

Politics

Turkish MoD shares publication on occasion of Day of Armed Forces of Azerbaijan

BAKU, Azerbaijan, June 26. Ministry of National Defense of Turkey shared publication on occasion of June 26 – the Day of the Armed Forces of Azerbaijan says, Trend reports. “We congratulate the Armed Forces of Azerbaijan, which demonstrated their strength with their heroic and selfless struggle, liberating their lands from occupation,” the publication says. Source […]

Read More
Politics

G7 Leaders Mock Putin In Stripping Off Jokes

<!– –> UK PM Boris Johnson said, “We’ve got to show them our pecs.” Elmau Castle, Germany: World leaders mocked Russian President Vladimir Putin’s tough-man image at a G7 lunch in Germany on Sunday, joking about whether they should strip down to or even less. “Jackets on? Jackets off? Do we take our coats off?” […]

Read More
Politics

Украинских беженцев просят покинуть дома в Брюсселе

Beijing from Ukraine Predictive homeowners in Brussels – Bros. This is a unique design Euobserver. One of the best ways to do this is to stay in touch with the rest of the community and to get to the next level. This is a preview of the activity of the hostess and the hostesses of […]

Read More
0Shares