Recently, companies have been facing great difficulties in managing their workforces due to the rapidly changing labor environment in Korea from such factors as the extended statutory retirement age to 60 and the expansion of ordinary wage. Companies need to… Continue Reading
The Korea Employers Federation (KEF) has issued a ‘KEF Manual on the Wage Peak System’ which explains how to design and introduce the system and related legal issues. The following is a summary: 1. Introduction of the Wage Peak System… Continue Reading
① Major labor issues in the first half of 2014 Government concentrates on job creation and stable labor relations In the first half of the year, the government has concentrated on: 1. strengthening support for youth employment, k encouraging women to continue… Continue Reading
① Labor Bills in the National Assembly As of 1 May, a total of 429 labor bills have been submitted to the Environment & Labor Committee of the 19th National Assembly. Among these, 31 out of 411 lawmaker-proposed bills… Continue Reading
Demands related to ordinary wage, extension of retirement age, and working hour reduction without wage adjustment will be the major issues in collective bargaining this year. As strong union leaderships were elected in many trade unions at large enterprises, and… Continue Reading
1. Lawsuits on Ordinary Wage In an effort to solve an increasing number of lawsuits and deepening confusion in workplaces caused by contradictory rulings by the lower courts, the Supreme Court made a full-member decision on December 18th, 2013. [Table… Continue Reading
The wage peak system refers to the gradual reduction of wages for senior workers in return for continuing employment after they reach a certain age. While there has as yet been no clear academic definition of the wage peak… Continue Reading