The Minimum Wage Commission has agreed on a minimum hourly wage increase of 5% to 9,620 won (US$7.40) for next year.
Increasing wages would add to the woes of small business owners during the economic downturn, cautioned a major business lobby group.
The incoming government will address the country’s 52-hour workweek policy and the seniority-based pay models adopted by most companies.
Labour representatives of the Minimum Wage Commission have proposed an hourly minimum wage of 10,890 won (US$8.4) for 2023.
Due to the shrinking working population in the country, the government is considering extending or abolishing the retirement age.
The Supreme Court recently ruled that the current peak wage system is tantamount to age-based discrimination as it cuts wages after a certain age.
The Minimum Wage Commission hopes to strike a balance between the conflicting interests of businesses and unions.
Despite the easing of pandemic measures in the country, large companies are continuing to allow their employees to work from home.
Others are adopting hybrid working arrangements, allowing workers to commute to coworking spaces nearby instead of company headquarters.
Working in tandem with the government, the heads of the nation's five largest conglomerates have pledged their support for SMEs in the country.
The number of jobs reached 19.97 million in the fourth quarter, up 376,000 year-on-year, according to official data.
To address workplace gender inequality, most South Koreans support the return of women to the workforce after childbirth.
More than eight out of 10 people who reported sexual harassment at the workplace said they suffered from some form of retaliation.
Work-life balance is the most important factor for Korea’s MZ generation (Millennials and Generation Z), according to Korea Enterprises Federation (KEF).
Amid the prolonged pandemic, 43.1% of firms listed on the country's main and minor bourses slashed the number of their employees last year from 2020.
The Cabinet has endorsed the supplementary budget worth 59.4 trillion won (US$46 billion) in its first meeting under the Yoon Suk-yeol administration.
Jobs data reflected overall improvements in the labour market, although employment in face-to-face services fell, such as those in accommodations.
To make ends meet, a record 506,000 workers in the country juggled two jobs last year, up around 100,000 from five years ago.
The government has pledged to allocate 3.6 million won yearly for additional personnel and labour management expenses incurred from telecommuting.
The fall in numbers in 2021 was attributed to the increase in parental leave taken in 2020 when schools and kindergartens closed due to COVID-19.
Some 23.5% of 2,000 respondents to a recent survey indicated that they had experienced harassment in the workplace in the last 12 months
The number of workers who were paid less than the minimum wage was 3,215,000 last year, the second highest annual figure after 2019’s 3,386,000.
The unemployment rate in the country stood near a historical low in March, while the number of people employed rose for a 13th consecutive month.
The incoming administration headed by President-elect Yoon Suk-yeol is seeking to overhaul the country's highly controversial minimum wage policy.
Up to 10 people are allowed to gather indoors, and establishments like cafes and restaurants would also be able to operate until midnight.
About 73.2% of respondents said they see value in what they do for a living in a survey conducted last year.
Over 80% of businesses also plan to hire fresh graduates among their new recruits, reported the Korea Chamber of Commerce and Industry.
Under the revised Accident Compensation Act for Public Servants, sickness and death caused by workplace harassment will be compensated.
Some 254,000 jobs were added in healthcare and social services,
while some 135,000 jobs were added in transportation and warehouses.
Willem Adema, senior economist in the OECD, said the move is premature and gives a completely “wrong policy signal” in the fight for gender equality.