Minimum wage for 2016 set at 6,030 KRW per hour, an 8.1% increase The Minimum Wage Council has set minimum wage for the next year at 6,030 KRW per hour, an increase of 8.1% over 2015. [Table 1] Minimum Wage… Continue Reading
1. Open Forum on Wage System Reform and Related Laws & Regulations – Date: 20 July 2015 (Mon) 2:00 pm~5:00pm – Venue: National Press Club (Korea Press Center, 20th floor) – Topics: Direction of wage system and… Continue Reading
Standard Chartered Bank Korea has decided to introduce an extended retirement age program as part of its efforts to extend retirement age. Retirement age will be extended from 58 to 62, but wages during that time will be determined… Continue Reading
SK Hynix, the world’s second-largest semiconductor maker, concluded its 2015 wage agreement with its employees. Along with the wage agreement, labor and management also decided to run a ‘wage-sharing program’ to improve working conditions and occupational safety and health of… Continue Reading
Trade Union “A” with 1,000 members was selected as the bargaining representative union (BRU) and reached a collective agreement with its company. Once collective bargaining had concluded, Trade Union “B”, a minor union with 10 members, was not satisfied as… Continue Reading
① FKTU voted on and approved general strike against structural reform of labor market On 2 July, the Federation of Korean Trade Unions (FKTU) held its central executive committee meeting and approved its plans for a general strike against government… Continue Reading
Government expands introduction of wage peak systems and strengthens improvement of collective agreements According to a report released on 1 July by the Ministry of Employment & Labor (MOEL) titled ‘Current Situation of Wage Peak System Introduction in Top 30… Continue Reading