The Ministry of Employment and Labor of South Korea has increased the minimum hourly wage by 1.5% for 2021 to KRW 8,720.00 compared to the 2020 minimum hourly wage of KRW 8,590.00. This new minimum hourly wage took effect on January 01, 2021. Moreover, in accordance with the hourly wage increase, the new minimum monthly wage, based on 209 working hours per month, will now be KRW 1,822,480.00 per month. The new minimum hourly wage also applies to both localContinue reading
Tag: Korean Lockouts of Employees
Legality of an Employer Lockout in Korea: Korean Labor & Employment Law Basics
Korea, in the eyes of many domestic and foreign companies, has been lax in the enforcement of the rights of employers to run a business. One noted cases that lead to a decision by the Supreme Court of Korea comes to mind. Because of a labor strike at a major automobile parts manufacturer and the physical blocking of the use of replacement workers and employer machinery by the employees, the employer implemented a partial unpaid lockout of certain employees (employeesContinue reading
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