Minimum Wage of Korea
From: Nate Image As you can see above, Korean minimum wage was the lowest among OECD-21. That was 3,770 won in 2008, and the price was increased 8.3% as compared with the price of 2007. This tendency is not different from now in 2011. After I read Jungwee-Cho's journal about the minimum wage of Korea, some doubts came into my mind. Why has the minimum wage to be mainly related to the inflation of price in Korea? Are there any important factors which directly impact on workers' lives? After considering deeply, I could have a idea.
The regulation of minimum wage was made to protect the poor workers, the people of low rank, from vicious enterprisers. The definition of minimum wage is the least wage that is needed for managing humanlike lives of workers. According to this definition, we should consider not only the inflation of price, but also the gap between the rich and the poor. The inflation, of course, directly influences workers' lives, but the gap impact more seriously into humanlike lives of workers.
When our congress enacts a new minimum wage for workers, the congress should consider the gap of social wealth because the gap makes our society destabilize, and even break the social order. If our government won't be an arbitrator for narrowing the gap, the poor workers couldn't receive satisfaction because they feel miserable when they compare their lives with the rich, the high income bracket. As you know and hear from news, hundreds of crimes are happening because of the dissatisfaction about the differential. These kinds of crimes are becoming frequent and more serious.
Korean government should work for the welfare of the poor workers and also preserve the order of society. To sum up, the government should determine the minimunm wage for workers by considering not only the inflation of price, but also the gap between rich and poor. Thanks.
Korea is one of the lowest countries minimum wage in the world. But we consider why the government makes a policy like minimum wage. I think Korea is no natural resources just we have human resources. In order to win against the market competition, Korea government try to reduce the wage.
답글삭제Thank you for your reply, but I wonder. What is more important thing between the competitive wage-price and welfare for workers? Is the minimum wage for national competitiveness or for protecting poor workers from vicious enterprisers? What the main purpose of the regulation?
답글삭제I totally agree with your opinion that the government should determine the minimunm wage for workers by considering not only the inflation of price, but also the gap between the rich and the poor.
답글삭제However, I just wonder what is the definition of the rich and the poor. Maybe the government should consider their income.
I agree with your opinion. Our gorvernment has excuse to maintain policy of minimum wage. If luxury class restrict their monopoly, all of the nation can live happily. But We sacrifice our life for wealth of luxery class. For well off country, government must control the minimum wage.
답글삭제population is going down in korea. we won't even have human resources. i think we try to reduce a gap among every class. The richer, The richer. that's big problem. the gorvernment have to raise salary.
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