New Computation of Minimum Wage of Factory Workers in Korea for 2017

Pinoy EPS workers in Korea

As per report, the 7.3 percent raise to the minimum wage of Factory Workers  has been approved by the labor ministry of South Korea. The said raise will take effect starting January 2017. Some 3.36 million foreign workers in this nation will benefit from this raise, about 24,000 of which are Filipino workers. The new minimum wage for 2017 is KRW 6, 470 per hour.

The new computation of minimum wage starting January 2017 should be like this:

Daily Rate (8 hours of work)

6, 470 KRW x 8 = 51, 760 KRW

Monthly rate (total of 209 hours of work)

6, 470 KRW x 209 = 1, 352, 230 KRW

Please note that the above computation is for basic only, that means for a regular 8 hours a day and 5 days a week work. Daily overtime and weekend overtime must be added on top of the minimum wage as well as the night differential.

Starting next year, should you find any discrepancy for the computation of salary based on the new minimum wage, you must talk to your employer regarding this. The government of South Korea is closely monitoring to make sure that the new minimum wage is enforced.


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