MANILA, Philippines – Good news for overseas Filipino workers (OFWs) in South Korea!
The minimum wage in South Korea will increase by 2017, benefitting all workers in one of Asia’s largest economies including OFWs, the Philippine Overseas Labor Office (POLO) said.
According to a report sent by POLO-South Korea Welfare Officer Manuela Peña, the minimum wage come 2017 will increase to KRW 6,470 (P268.73) per hour from KRW 6,030 (P250.46) per hour, a 7.3% climb.
This is equivalent to KRW 51,760 (P2,149.87) per day for 8 hours of work, KRW 258,800 (P10,749.34) for 5 days, or KRW 1,352,230 (P56,165.27) per month.
The pay hike, according to Peña, will benefit more than 24,000 OFWs in small and medium manufacturing industries under the Employment Permit System (EPS). South Korea’s Labor Standards Act applies to all employees in South Korea, regardless of their employment status or nationality.
The South Korean government, through its Labor Standards Policy Department, said they will be closely monitoring the implementation of the wage increase.– Rappler.com