Korea ranks 14th among OECD nations in terms of minimum wage
- 9 years ago
Latest data shows... Korea's lowest legal wage is neither that high or that low compared to other OECD nations.
According to numbers released by Economic and Social Development Commission and Korea Employers Federation on Monday,... the annual minimum wage stood at just over 12-thousand U.S. dollars in 2013, ranking Korea 14th... out of the 25 OECD member countries surveyed.
However, workers and labor unions in Korea say... the minimum wage is not something that can be compared by only looking at those numbers... and not something that should be compared with other countries.
They say... there's a huge imbalance between corporate earnings and household income... and that the current minimum wage fails to meet... even... the standard cost of living.
According to numbers released by Economic and Social Development Commission and Korea Employers Federation on Monday,... the annual minimum wage stood at just over 12-thousand U.S. dollars in 2013, ranking Korea 14th... out of the 25 OECD member countries surveyed.
However, workers and labor unions in Korea say... the minimum wage is not something that can be compared by only looking at those numbers... and not something that should be compared with other countries.
They say... there's a huge imbalance between corporate earnings and household income... and that the current minimum wage fails to meet... even... the standard cost of living.