Choi Jae-hyung "Raising Minimum Wage That Destroys Jobs Is No Different From a Crime"

Former Board of Audit and Inspection Chairman Choi Jae-hyung, affiliated with the People Power Party, registered as a presidential preliminary candidate on the 26th at the Central Election Commission in Gwacheon-si, Gyeonggi Province. Photo by the National Assembly Press Photographers Group

[Asia Economy Reporter Geum Bo-ryeong] Choi Jae-hyung, former head of the Board of Audit and Inspection and a presidential candidate from the People Power Party, criticized the Moon Jae-in administration, saying, "Raising the minimum wage, which destroys jobs, is no different from a crime."

On the 31st, Choi sent a message to reporters stating, "The Moon Jae-in administration's rapid minimum wage increase policy paradoxically created more workers who do not receive the minimum wage."

He introduced an article reporting that business owners, already struggling due to a prolonged recession and further hit by COVID-19, are unable to pay minimum wage to part-time workers. Choi explained, "According to the article, among the 17 cities and provinces surveyed, the proportion of workers not receiving the minimum wage increased in 10 locations compared to the end of 2017, the first year of the Moon administration. All of these are in the provinces."

Choi said, "Raising the minimum wage is good. However, raising the minimum wage in a way that destroys jobs is bad," and pointed out, "Raising the minimum wage that takes away jobs from young people who want to work is no different from a crime."

He also criticized the Moon administration's failures in minimum wage increases and income-led growth (Soju-seong). Choi stated, "The outcome of a policy is the most important. Claiming good intentions or sincerity after failure is nothing but an excuse to hide incompetence."

Furthermore, Choi said, "I will implement policies thoroughly based on reality," and added, "I will think deeply and repeatedly to ensure that the results of policies help those running businesses in the provinces and the lives of workers."