'Minimum Wage System Improvement Study Group' Launched... Discussions Over 2 Months to Derive Improvement Measures

Employment Minister Kim Moon-soo: "Fundamental Improvement of Minimum Wage Needed"

A research group for improving the system, including the structure of minimum wage determination, has been launched. The research group plans to conduct in-depth discussions and review field opinions over the next two months to present concrete improvement measures.

Kim Moon-soo, Minister of Employment and Labor. Photo by Yonhap News

The Ministry of Employment and Labor announced on the 8th that it has launched the 'Minimum Wage System Improvement Research Group.' The research group consists of nine current and former public interest members of the Minimum Wage Commission. Based on their experience in minimum wage deliberations and expertise in fields such as law, economics, and management, they aim to develop reasonable and widely acceptable improvement measures. External experts will also be invited for discussions if necessary.

At the kickoff meeting held on the day of the group's launch, Minister Kim Moon-soo of the Ministry of Employment and Labor gave an opening remark, followed by a keynote presentation by Professor Lee Jung-min of Seoul National University on the topic "The Impact of the Minimum Wage System on Our Labor Market and Economy." Afterwards, a free discussion was held to discuss future agendas and operational plans.

The research group will be intensively operated for the next two months starting with the kickoff meeting. Upon completion of the discussions, they plan to prepare and announce concrete improvement measures as the final outcome. To reflect field conditions and opinions, they will also conduct labor-management consultations, field visits, and hold public seminars and forums concurrently.

In his opening remarks, Minister Kim said, "Today, the Minimum Wage Commission tends to take the form of large-scale wage negotiations rather than finding an appropriate level through thoughtful consideration and consensus based on rational standards, resulting in repetitive and exhausting conflicts every year," adding, "Through this discussion, we must fundamentally improve the minimum wage system and appropriately incorporate changes in our labor market into the minimum wage system as well."

Minister Kim explained, "Based on 37 years of experience since the implementation of the minimum wage in 1988 and cases from advanced countries, I hope you will present progressive alternatives," adding, "We must also listen to voices from the field and prepare improvement measures that the public can empathize with." He continued, "The government will actively support the discussions of the research group."