President Song Chiyoung of the Federation of Small Business Owners Expresses Regret Over Labor Sector's 11,260 Won Proposal

Special Statement Released on July 2

Song Chiyoung, President of the Korea Federation of Small and Medium Business, expressed regret over the labor sector's proposal to raise next year's minimum wage by 12.3%.

Song Chiyoung, President of the Korea Federation of Small and Medium Business, is delivering a special statement regarding next year's minimum wage decision. KFB

On July 2, through a special statement, President Song said, "Just as the rights of workers must be respected, so too must the right to survival of small business owners. I urge all parties to listen to the voices of small business owners and seek solutions that enable mutual coexistence."

He also expressed regret regarding the labor sector's proposal of 11,260 won as the fourth proposal at the eighth Minimum Wage Commission meeting. President Song stressed, "Wages that employers cannot afford will destroy employment itself. The standards centered on regular employees of large corporations should not be imposed on all industries."

He went on to say, "The Minimum Wage Commission should serve as a forum for public discussion where labor, management, and the government can find solutions together based on trust. I request that next year's minimum wage be frozen or, at the very least, limited to minimal adjustments."