Low minimum wage costs youth dreams
Gu Gyo-hyeon, president of Arbeit Workers Union By Kim Jae-won Gu Gyo-hyeon, president of Arbeit Workers Union, a labor union representing part-time workers, said that its members cannot plan for their future with the minimum wage as low as it is.Korea’s minimum wage is 5,580 won per hour this year. Last month, the government-led Minimum Wage Committee decided to increase it 8.1 percent to 6,030 won next year.“The number of young jobseekers is 600,000, and most of them are part-timers. With the still-low minimum age, they cannot dream of an alternative life,” Gu said.He said it should be raised to 10,000 won per hour so they can think about their futures.Gu said the government introduced measures to create more jobs for young people, but most of them are useless. Recently, the Ministry of Strategy and Finance announced it will give companies tax credits up to 5 million won for each person aged between 15 and 29 they hire.“I don’t think companies hire young people because of 5 million won. Policies should be focused more on structural refo
Aug 10, 2015