S. Korea in minimum wage deadlock: unions, businesses each submit revised proposals
Updated: 2022-06-29 11:11:06 KST
After intense discussions over next year's minimum wage South Korea's labor unions and the business community have now both submitted REVISED proposals.
Labor unions have LOWERED their earlier request of about 8-U.S. dollars and forty cents an hour. to eight dollars but still nearly 13-percent higher than the current wage floor of around 7-dollars.
Business owners after INITIALLY arguing that the rate should be frozen have now suggested a 1.1 percent hike.
Negotiations continue at the Minimum Wage Commission.
If the two sides fail to reach an agreement public interest representatives will put their own proposal up for a vote.