More than 40% of self-employed favor minimum wage freeze
Nearly 60 percent of Korea’s self-employed individuals said their business conditions have worsened this year compared with last year, while more than 40 percent said next year’s minimum wage should be frozen, according to a survey released Tuesday by the Federation of Korean Industries (FKI). The survey of 500 self-employed people nationwide was published as the Minimum Wage Commission began negotiations over next year's minimum wage at its eighth plenary meeting at Government Complex Sejong. The commission consists of 27 members — nine representatives each from labor, management and the public interest sector. Among respondents, 57 percent said their business situation had deteriorated from a year earlier, while just 8.4 percent reported an improvement. The share of respondents reporting deteriorating business conditions was highest in the wholesale and retail sector at 66.3 percent, followed by accommodation and food services at 65.8 percent. The proportion was also comparatively high in arts, sports and leisure services at 58.2 percent, and transportation and warehousing at 53.
