MInimum Wage Hike in South Korea to Benefit OFW

After the wage hike in Taiwan and Hongkong, South Korea finally pressed the red button to increase wages to benefit the Overseas Filipino Workers (OFW’s)! The increased in salary of the OFW’s who are working in South Korea is guaranteed this coming year. Those who are in Korea will earn monthly income of KRW1,352,230 (P56,165.28).

Filipino’s may celebrate a little, for South Korea’s minimum wage will increase by 7.3% next year and expected to benefit thousands of Overseas Filipino Workers who are working there. According to the government estimate, there are at least around 24,000 OFWs working in South Korea.

According to the Department of Labor and Employment (DOLE), the minimum wage rate in South Korea will be KRW 6,470/Hour or P268.73/Hour from the current rate of KRW 6,030 or P250.46 per hour starting next year. Translated to KRW51,760(2,149.87) per day on an 8-hour  working day. KRW258,800 (P10,749.93) on five working days. It is equivalent to KRW1,352,230 (P56,165.28) a month.

According to Welfare Officer Manuela Peña, the increase was approved by the South Korea's Ministry of Employment and Labor.  In her report to DOLE Secretary Silvestre Bello III, Peña said that  all South Korea-based OFW in both small and medium manufacturing industries employed under the Employment Permit System (EPS) shall be included in the wage  increase.

Korea's Labor Standard s Act defined the minimum wage  should cover all employees ,whether temporary, part time ,or daily ;regardless of nationality.

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