The minimum wage for next year will be decided on the month day... narrowing the gap between labor and management.7 14 690
The Minimum Wage Commission will hold its first plenary meeting on the month day to discuss the minimum wage proposal for next year. The labor proposal was presented at the amount, while the management proposal was presented at the amount, reducing the gap between labor and management requests from amount to amount.7 14 14 9 11,220 9 10,530 1,680 690
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The minimum wage for next year is expected to be decided as early as the month day. As it is a turning point that affects corporate labor costs and the wallets of low-income individuals, where the final amount is set is crucial.7 14
The Minimum Wage Commission will hold its second plenary meeting at the Sejong Government Complex on the month day. At this meeting, a decision will be made on whether or not to approve and the final decision-making process will be clarified.7 14 14
The current position of the tug-of-war between labor and management is as follows. The labor proposal is at the amount, while the management proposal is at the amount.9 11,220 9 10,530
The starting point was much further away than it is now. The labor sector initially demanded an increase of 16.3% compared to this year, amounting to 12,000won. The management presented a plan to freeze wages at this year's level of 10,320won.
As negotiations progressed, the gap in demands narrowed from 1,680won to 690won. The remaining difference amounts to the cost of a meal or two in terms of hourly wages. While management conceded 210won, the labor sector lowered their demand to 780won.
The clock is ticking. The final announcement deadline is on 8month 5day. By mid-7month at the latest, the minimum wage proposal must be submitted to the Minister of Employment and Labor. Given the urgency, the meeting on 14day is likely to be the last opportunity for adjustments.
The Korean Confederation of Trade Unions issued a press release after the 7month 9day 13th plenary meeting. They stated their position to further narrow the gap between labor and management before making a final decision on next year's minimum wage in the subsequent meeting. If an agreement is not reached in the meeting on 14day, the schedule for follow-up meetings could become problematic.
Sources: 뉴시스 경제
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