Wage hike tops South Koreans’ new year wish list

Apart from higher wages to cope with rising inflation, employees in South Korea also want reduced work hours and a better work-life balance.
By: | January 10, 2023
Topics: Compensation and Benefits | Employee Experience | News | South Korea

Almost 80% of employees in South Korea surveyed by pro-labour civic group Gabjil 119 wished for a wage increase in the new year. This was followed by a reduction in work hours (22.4%) and a better work-life balance (20.1%).

Particularly, moving to a better company and reduction in work hours were ranked second on the respective wish list of South Koreans who are in their 20s and 30s. A better work-life balance was sought by those aged 40 and 50.

Among the 1,000 respondents surveyed, 92.3% reported that their real wages had declined as a result of high inflation.

READ: Sustainable growth a key focus for companies in South Korea

Meanwhile, 51.2% of female employees, 52.5% of non-regular employees and 55.6% of the employees employed at organisations with fewer than five people do not expect workplace bullying incidents to decrease. Compared to this, 62.6% of male employees, 62.8% of regular employees and 66.2% of employees at organisations with more than 300 people expressed optimism that workplace bullying would decrease in the near future.