Korea's and OECD's concerns about the increase in the minimum wage … Need to reconsider



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[아이뉴스24 전종호 기자] The Free Government of Korea has issued a series of criticisms regarding the increase in the government's minimum wage and income-led growth policy.
Yoon Young-suk, spokesman, said: "The ruling party urges the government to abandon its inefficient revenue-based growth policy and actively promote economic reform and job creation, Kim Dong The Deputy Prime Minister and the Economic Team are not fully aware of the gravity of the current situation.
Kim Seong Won, a spokesman for the Free Korean Party [출처=뉴시스 제공]

Yun said: "The minimum wage is 6470 won per hour in 2017 and the minimum wage is 8,350 won in 2019. The minimum wage has increased by 29, 1% in two years. "The average monthly increase in employment for five months compared to last September was 289,000, while that of the minimum wage was only 10.3 million for five months compared to February this year. "

"The increase in the minimum wage aggravates the lives of ordinary people," Yun said. "The number of agency workers has decreased by 130,000 over the previous year and by 117,000 a day." The report said.

He said: "The self-employed rate should be taken into account." The self-employed rate in Korea is 25.5%, the number of self-employed is 5.56 million and the third among OECD countries. "The operating profit of independent enterprises is only 20.9 million won per month, or 63% of the average monthly income of 3.29 million won for employees, and few of them. employers earn less than their employees. "
"It is urgent that the Korean government adopts a bill to revive the economy, such as the framework law on the development of the service industry, the law on free regulation and the law on reform. work.

Kim Seongwon's spokesman pointed out that the Organization for Economic Co-operation and Development (OECD) and the International Monetary Fund (IMF) are concerned about the increase in the minimum wage in Korea.
In his speech, Kim said: "Tar Wan Paeng Oguru, head of the Asia Pacific Department of the IMF, expressed concern over the sudden increase in the government's minimum wage Moon Jae-in at a seminar organized by Washington on May 25 (local time). "We must be very careful," said Moon Jae-in, the lowest pay increase in the government. "If we go beyond a certain point, we can damage the defenses of the Korean economy. "

He added: "The OECD's economic coordinator for Korea, Randall Jones, who is responsible for issuing the speech the same day, said:" Seoul's Myeong-dong capacity and Chonnam can not be the same.

Kim said, "The government is not aware of the negative effects of increasing the recognition of the minimum wage for international organizations," said Mr Moon. "We have not been able to give a convincing explanation to this statement so far," he said.

Kim said, "If the government uses the national economy as a testing ground for an unproven pseudo-theory, it can be said that it's a section showing how the government of Moon Jae- The government must now immediately look at the sharp rise in the minimum wage, which is based on income-oriented growth. "

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