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S. Korea: Gov't to Enact Bill on Ordinary Wages Within This Year - Labor Minister |
Source: |
english.yonhapnews.co.kr |
Source Date: |
Sunday, September 08, 2013 |
Focus: |
ICT for MDGs
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Country: |
Korea (Republic of) |
Created: |
Sep 10, 2013 |
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The government plans to draw up a bill on the scope of ordinary wages this year in an effort to settle lingering disputes between labor and management circles over whether bonuses and various allowances should be considered part of regular wages, the labor minister said Sunday.
Ordinary wages are money that is paid regularly and uniformly to employees. With no clear law provisions on the scope of the regular wages, South Korean companies have excluded bonuses from basic wages used as a standard to calculate overtime allowances and severance pay, based on a government guideline published in 1988.
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S. Korea: Gov't to Enact Bill on Ordinary Wages Within This Year - Labor Minister The government plans to draw up a bill on the scope of ordinary wages this year in an effort to settle lingering disputes between labor and management circles over whether bonuses and various allowances should be considered part of regular wages the labor minister said Sunday
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