The
minimum wage in Korea this year was set at 9,160 won per hour, up 5.1 percent increase
from last year. This applies equally to not only Koreans but also foreign
residents. But how is the minimum wage calculated? Is the salary I get paid in
line with the minimum wage?
In the case of part time jobs
If
a part-timer who works 4 hours a day (20 hours a week) from Monday to Friday
receives 200,000 won a week, the hourly wage of this part-timer is 10,000 won.
It is being paid above the minimum wage.
However,
it is a different story if you work 5 days a week and work every week like
this, rather than just working 5 days for one time. That's because of ‘weekly
leave allowance'.
Weekly
leave allowance is money paid by the employer when the employee has worked 15
or more hours in a week. If the above part-timer goes to work without missing a
day, one of Saturday and Sunday is a paid holiday.
Based
on the minimum hourly wage of 9,160 won, part-time workers who work 4 hours a
day receive 36,640 won a week's holiday pay. The minimum weekly wage, including
weekly leave allowance, should be 9,160 won x 24 hours = 211,840 won.
Therefore, if a part-timer who works for more than one month receives only
200,000 won a week, it is a violation of the minimum wage.
In case of an full time employee
If
an office worker who works more than 8 hours a day receives a salary, the month
is calculated as 5 days a week, 8 hours a day, and a week off (35 hours) is
included in the calculation.
Some
months have 30 days and some months have 31 days, so in general, calculating
‘209 hours × hourly wage’ will give you the minimum monthly wage. In fact, if
you multiply 209 hours by the minimum wage of 9,160 won this year, the minimum
wage is 1,914,440 won.
So,
what if the wages include meals, etc.? Items included in the minimum wage are
items that are paid monthly, including the basic wage. For example, welfare
expenses such as meals and transportation expenses, and regular bonuses are
included in the minimum wage. Therefore, if you are earning more than 1914,440
won including meals and transportation, you are receiving more than the minimum
wage.
However,
items with different monthly amounts, such as extended night and holiday work
allowance, are not included in the minimum wage and must be received
separately.
On
the other hand, even if a labor contract was signed with a lower amount than
this year's minimum wage last year, the employer must pay the minimum wage this
year. The minimum wage set by the government applies to all workers even if
they do not have to sign a new employment contract.
Reporter Lee Jieun
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