The South Korean government will introduce a new minimum wage-setting system on Monday that divides the roles within the Minimum Wage Commission, a body that determines the wage increases.
According to the labor ministry,… the commission will be divided into two sub-bodies.
Government representatives will first devise an appropriate range for the increase,… while the final decision will be made jointly by representatives of companies, non-regular workers and small businesses.
The government hopes the measure can bridge the gap between employers and employees after a whirlwind of controversy over the rapid rate of increase during the past couple of years.
S. Korea’s labor ministry to introduce revised minimum wage-setting system to bridge gap between employers and employees
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