[Lee Jae-min] Will minimum wage hike step up automation?

As heralded, the minimum wage is being increased substantially by the Minimum Wage Commission.

The commission is raising the minimum wage from 6,470 won ($5.80) per hour this year to 7,530 won next year, a 16.4 percent increase and the largest increase since 2001. The rise will continue until the minimum payment reaches 10,000 won. As of now, Korea’s per hour minimum wage is roughly in the upper middle among Organization for Economic Cooperation and Development countries, when per capita gross national product and gross national income are factored in.

The increase is part of the government’s effort to narrow the […]

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