SEOUL: Southern Korea said on Thursday (Jun 30) that its Minimal Wage Commission had agreed on an minimal hourly wage raise of 5 % to 9, 620 won (US$7. 39) for next year, in the first such decision since President Yoon Suk-yeol took workplace in May.
The pay hike will affect as much as 3. 4 mil South Korean workers, the commission stated, adding that it place the country’s growth, inflation and employment perspective into consideration when deciding it.
Labour-friendly former president Moon Jae-in had raised the minimum wage by 16. 4 per cent in This summer 2017 in the first year of his presidency, while the nation saw a combined 41. 6 per cent hike in the hourly minimum wage throughout his five-year term.
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