South Korea’s minimum wage will be raised to 5,580 won ($5.40) per hour starting in 2015, up 7.1% over 2014’s hourly wage of 5,210 per hour.
The hourly wage translates to a 44,640 won (US$43.17) per day for those who work eight hours and 1,166,220 won (US$1,150.18) per month.
This marks the second year in a row that the South Korean minimum wage has risen by more than 7%, following raises of 2.75 percent in 2010, 5.1 percent in 2011, 6 percent in 2012, 6.1 percent in 2013 and 7.2 percent in 2014.
The wage increase comes after the 7th Plenary Session of the Minimum Wage, lead by Chairman Park Jun-sung, called for the increase in hourly pay in late June.
According to the Official Gazette, a publication of the Philippines government, the minimum wage increase includes non-Korean residents working in the country under the Employment Permit System.
The increase, however, excludes those working in their family business and living in the same residence, domestic workers and seafarers governed by the Seafarers Act.
Full listing of minimum wage by country here (Wikipedia)
The Latest Haps
The country’s top court has sentenced a South Korean man to 12 years in prison for attempting to murder the U.S. ambassador to South Korea Mark Lippert.
The Kim Young-ran anti-graft law is taking in effect starting today. The law aims to prevent government employees and various officials from receiving bribes.
Busan Subway Lines 1, 2 and 3 have begun emergency services today due to a general strike of the Busan Metro Labor Union.
Schedules are up, books are printed and available, and tickets go on sale this Thursday at 2 p.m. It’s time to pull out the scratch pad and start planning your week.
Miles Teller and Aaron Eckhart have been confirmed as guests for the 21st Busan International Film Festival.
Cancer remained the leading cause of death in South Korea in 2015, with fatalities from pneumonia rising sharply amid a rapidly aging population, government data showed Tuesday.
The speed limit on main roads in Busan’s downtown might be lowered to 50 km per hour, which is 10 km less than the previous speed limit.
The 6th Seomyeon Medical Street Festival is starting on September 30th.
Busan Heritage Night is the second most popular of the 10 nighttime tour programs launched by the Cultural Heritage Authority (CHA) this year.
Find out what great things are happening around Busan this week.
A new survey by MasterCard shows that Seoul is once again the 10th most popular city for travel in the world.
Busan’s neighbor to the north has a lot going for it for a fun weekend that’s not so far from home.
While many head to Thailand in search of its magnificent culture, Chiang Mai is a great place to start and one of her best offerings are her awesome temples, known as “Wats”.
North Korea’s goalkeeper gives up one of the worst goals ever — to the opponent’s goalkeeper in an AFC U-16 championship match.
A 29-year-old woman was seriously injured this month when a bungee jump operator failed to secure her rope to the safety hook.
Suyeong-gu Office runs the Stand Up Paddle Board Academy at Gwangalli Beach in September and October.