Prime Minister Kim: "Minimum Wage '9,160 Won'... Labor and Management, Please Accept Even If Disappointed"

The 30th Cabinet Meeting

Prime Minister Kim Boo-kyum is presiding over the Cabinet meeting held at the Government Seoul Office Building on the 13th. July 13, 2021 [Image source=Yonhap News]

[Sejong=Asia Economy Reporter Son Seon-hee] Prime Minister Kim Boo-kyum said on the 13th regarding the decision to raise next year's minimum wage by 5.05% to 9,160 won compared to this year, "I think both labor and management will have regrets," but he also "earnestly urged both labor and management to accept the decision of the Minimum Wage Commission from a magnanimous perspective."

On the same day, Prime Minister Kim presided over the Cabinet meeting at the Government Seoul Office and said, "Even if it is not satisfactory, the virtue of each side making concessions for coexistence and mutual growth is necessary." He added, "Due to COVID-19, we are in a very difficult crisis situation. This fourth wave could deal a severe blow to our recovering economy," and repeatedly appealed, "We do not have the time or capacity to waste on conflicts now."

Prime Minister Kim also instructed related ministries, including the Ministry of Employment and Labor, to "actively guide and inform workplaces so that next year's minimum wage can be properly implemented on the ground, and to provide necessary support simultaneously."

Meanwhile, at the Cabinet meeting that day, the 'Plan to Strengthen Support for Youth Preparing for Independence' targeting young people over 18 years old who have lived in child care facilities or foster families was discussed.

Prime Minister Kim said, "We plan to promote amendments to the Child Welfare Act to extend the protection period to 24 years old, considering children's study and job preparation periods, and to expand personnel responsible for comprehensive independence support and follow-up management in all areas such as housing, career, and employment." He added, "We plan to strengthen independence allowances and housing safety nets and expand support for job-seeking activities."