Thursday, January 31, 2013

OFW - Higher Salary Awaits in South Korea

Overseas Filipino workers (OFWs) who wish to work in South Korea could benefit from higher salary after the East Asian country approved a new minimum wage for all workers, including foreign workers, the Department of Labor and Employment (Dole) said Thursday.

Labor Attaché Felicitas Bay of Philippine Overseas Labor Office (Polo) in Korea, in a report to Labor Secretary Rosalinda Baldoz, said the Ministry of Employment and Labour (MOEL) announced that effective January 1 until December 31 this year, the minimum daily wage for workers is 38,880 Korean won for eight hours of work a day, or a monthly rate of KRW 1,015,740 Korean won (equivalent to USD 958.00).

The new rate represents an increase of 5.76 percent over last year’s minimum wage rate of 36,640 Korean won for eight hours of work rendered. The minimum wage rate, however, shall not apply to workers with disabilities, those working in their family businesses, domestic workers, and seafarers.

The Minimum Wage Council of Korea is the official body composed of representatives from management, labor, and public interest, mainly academics, that determines the minimum wage through a system that guarantees minimum livelihood for workers.

The Council recommends the minimum wage rate to the MOEL after its annual review and requires employers by law to pay wages not lower than the said rate.

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