South Korean economy not facing financial crisis over wage hike: FTC chief
- 6 years ago
The head of Korea's antitrust watchdog insists.... the country is NOT on the brink of a financial crisis,... despite concerns that next year's hefty minimum wage hike.... could place a big burden on the economy.
Speaking to a local radio station on Monday...., Fair Trade Commission Chairman Kim Sang-jo said,.... challenges related to the wage hike would not lead to a crisis.... because the government has set its growth estimate at 2-point-9 percent for the second half of this year.
Kim acknowledged that officials didn't communicate well enough with the public or the media.... regarding criticisms of the rapid wage increase... and he promised to come up with detailed measures next month to support small businesses in need.
His remarks come after many blamed the FTC for its belated announcement last week.... on reinforcing investigations of franchise chains' unfair practices.
Speaking to a local radio station on Monday...., Fair Trade Commission Chairman Kim Sang-jo said,.... challenges related to the wage hike would not lead to a crisis.... because the government has set its growth estimate at 2-point-9 percent for the second half of this year.
Kim acknowledged that officials didn't communicate well enough with the public or the media.... regarding criticisms of the rapid wage increase... and he promised to come up with detailed measures next month to support small businesses in need.
His remarks come after many blamed the FTC for its belated announcement last week.... on reinforcing investigations of franchise chains' unfair practices.