Moon says sorry for failing to keep campaign promise on minimum wage
- 5 years ago
President Moon Jae-in has apologized to the people of Korea for not being able to keep his campaign pledge to raise the minimum wage to 10-thousand won an hour.
That's about eight-and-a-half U.S. dollars, the level he'd said it would reach by the year 2020.
But talks between labor and management last week set next year's rate far lower.
Here's the President's chief of staff for policy earlier today.
“He said that as president it is extremely regrettable that he was not able to keep a promise to the people. He then ordered detailed measures to be prepared on the government level.
President Moon reportedly said the Minimum Wage Commission made a difficult decision last week that took into account the country’s “economic conditions, employment situation and the receptiveness of the market.”
The Commission representing labor, business and market experts, voted to raise the minimum wage next year by 2-point-9 percent, far smaller than the almost-19-percent rise that would've been needed to keep the President's promise.
That's about eight-and-a-half U.S. dollars, the level he'd said it would reach by the year 2020.
But talks between labor and management last week set next year's rate far lower.
Here's the President's chief of staff for policy earlier today.
“He said that as president it is extremely regrettable that he was not able to keep a promise to the people. He then ordered detailed measures to be prepared on the government level.
President Moon reportedly said the Minimum Wage Commission made a difficult decision last week that took into account the country’s “economic conditions, employment situation and the receptiveness of the market.”
The Commission representing labor, business and market experts, voted to raise the minimum wage next year by 2-point-9 percent, far smaller than the almost-19-percent rise that would've been needed to keep the President's promise.