"Stop Forcing More Sacrifices on Small Business Owners... 2023 Minimum Wage Must Be Frozen"

Sogongyeon Holds Press Conference at Sejong Employment Ministry Building
Urges Freeze on Next Year's Minimum Wage... "Deadly Middle Ground"
"Labor Demands Unrealistic... Insufficient Payment Capacity"

[Asia Economy Reporter Kim Bo-kyung] The small business sector has urged the government to freeze the minimum wage for next year. They appealed that having already suffered enormous losses by cooperating with the government's COVID-19 quarantine measures, their difficulties would worsen if the minimum wage were to increase.

The Korea Federation of Small and Medium Business held a press conference titled "A National Appeal to Freeze the 2023 Minimum Wage" on the 28th at the entrance of the Ministry of Employment and Labor building in Sejong City.

Oh Se-hee, president of the Federation, stated, "Since the outbreak of COVID-19 in Korea, small business owners have fulfilled their responsibilities and duties by cooperating with quarantine measures, suffering huge business losses. On top of that, rising prices due to increased liquidity and the Ukraine crisis, along with high interest costs, have combined to cause a triple hardship."

He continued, "If the minimum wage rises as well, small business owners will not be able to escape the quagmire of a triple crisis," urging, "Please do not force further sacrifices from small business owners."

President Oh said, "The labor sector is proposing an unrealistic amount of 10,890 won per hour for next year's minimum wage, which is an 18.9% increase compared to this year," adding, "Including the weekly holiday allowance, this amounts to 13,068 won per hour."

He lamented, "Small business owners cannot afford to pay labor costs exceeding 13,000 won per hour. With limited sales but increasing costs, how can they sustain their livelihoods?"

He described the situation on the ground, where small business owners have taken on increased loans due to the COVID aftermath and are working alone as solo proprietors because they cannot hire employees, reiterating the demand to freeze the minimum wage.