The minimum wage increase in South Korea is critical for the economy … Full Review

<img alt = "The South Korean government is asking for a complete review of the minimum wage committee's decision to raise the minimum wage by 10.9 percent last year, stating that" we are not going to pay the minimum wage. it is a "ridiculous approach that ignores reality."

A high-level spokesperson, Yoon Young-suk, commented: "The policy of raising the minimum wage , pursued under the policy of growth based on income, will continue to hinder the growth drivers and reduce the number of jobs, "The minimum wage has increased by 29.1% in two years ", he said," following the promise made by the president of a "minimum wage of 10,000 won by the year 2020."

Yun, spokesman, "We must abolish the growth policy based on income and adjust the commitment of the president We will increase the minimum wage taking into account the economic situation, the conditions of employment,

He added that "jobs are declining fast because of the increase in the minimum wage," he added, "and the possibility of stagflation, which accompanies from an economic slowdown and increasing inflation,

Meanwhile, President Moon Jae-in stressed: "The government should take steps to control the pace of the increase in the minimum wage by facing the reality and establish countermeasures for the self-employed and small businesses. "

" The minimum wage should be increased when the economy will get better, but if the economy slows down and that a normal war is unfolding, the economy will be a blow, "said Yoon Sang-jik, former Minister of Industry and Commerce.

Yoon said, "This is not the time to raise the minimum wage," he said.

Representative Chung Kyung Ho, who headed the State Coordination Committee, said: "This is not a very useful way to create jobs. (D, S, ID) {19659003]