Minimum wage needs balanced, flexible approach
Jun 20, 2016
[THE INVESTOR] Labor and management representatives continued to run parallel last week at the fourth and latest round of negotiations on setting the minimum wage across the country next year.Labor groups insist that the 2017 minimum wage should be pegged at 10,000 won ($8.59) per hour, up 65.8 percent from 6,030 won this year, while business circles call for a freeze.According to data from the Minimum Wage Commission, Korea’s minimum wage rose by an annual average of 8.7 percent over the 15 yea