Amid time running short on the deliberation on the minimum wage rate by members of the Minimum Wage Commission for next year, the two trade union national centers of the Federation of Korean Trade Unions(FKTU) and Korean Confederation of Trade Unions(KCTU) decided to join forces to realize the hourly minimum wage of 10,000 won(US$8.68).
The legal deadline for the minimum wage rate determination by the Minimum Wage Commission is set by June 29, but the negotiation still continues. The new minimum wage should be made public 20 days before August 5 in order to take effect for the year 2018, which means the decision should be made by July 16. The Minimum Wage Commission is scheduled to have two plenary sessions on July 12 and 15 before the final decision.
reported by Je Jeong-nam
translated by Kim Sung-jin