홍남기 기획재정부 장관 주52시간 근무 및 최저임금제 보완책 강구할 것 The South Korean government held a meeting with local business leaders... to outline its major economic policies for the second half of this year.
The main focus was on maximum working hours and the minimum wage.
Seo Eunkyung has the highlights from that session.
South Korean finance minister Hong Nam-ki told Korean business leaders on Thursday... that the government will come up with measures to successfully implement.... 52-hour maximum work weeks and higher minimum wage levels.
Hong added the government would strengthen its efforts... to reflect the opinions of local businesses... who have been concerned about the new work hours and wages.
He also said the government would set next year's minimum wage... at a reasonable and acceptable level.
The 52-hour maximum work week system was initially adopted in July 2018... to promote better work-life balance among Korean workers.
The new limit was far lower... than the previous ceiling of 68 hours.
For now, the system applies to businesses with more than 300 employees,... but it will also be required for small and mid-sized companies with 50 to 299 employees,... starting in January next year.
Meanwhile, the country's mimimum wage has soared 29 percent over the past two years,... from roughly 5-point-5 U.S dollars per hour to 7-point-1 dollars.
There have been concerns among small businesses... that the wage hike could add significantly to their labor cost burden.
A survey conducted by the Korea Federation of SMEs in May showed... that 69 percent of local firms were in favor of freezing the minimum wage... for next year.
Minister Hong also added that the government would ease regulations on small businesses... and provide them with various tax benefits.
Seo Eunkyung, Arirang News.
#SKorean #goverment #52workinghour #minimumwage
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