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[Graphic News] Impact of court‘s ordinary wage ruling on companies
By Korea HeraldPublished : Dec. 19, 2013 - 20:19
The Supreme Court’s decision to include regular bonuses in calculations of the “ordinary wage” for workers will result in additional employment costs for companies. The Korea Employers’ Federation expected the financial burden on companies to reach 38.5 trillion won, while the Korea Labor Institute predicted 21.9 trillion won in increased costs as a result of the ruling.
The Korea Federation of SMEs, or K-Biz, estimates SMEs will have to foot an additional bill of 11.6 trillion won and the Korea Automobile Manufacturers Association forecasts that automakers will have to shell out an additional 9 trillion won.
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Articles by Korea Herald
