Minimum wage system.

After I was listening the presentation, I thought that this presentation was the informative presentation that specifically explained the korea’s minimum wage system. Because I will graduate from the university this winter and I will become a employee so I am interested in wage system.

 

In the presentation, there are two different sides for this debate. labor’s side insist that have to rise the 20% of minimum wage. On the other hand, employer’s side insist that have to down the 10% of minimum wage. Of cource , I agree the labor’s side. If you work on the convenience store during the 1 years, you can barely pay the 1 years university tuition. Like this, korea’s wage level is so low than the korea’s price level . And If government rise the 20% of minimum wage, lively economic activity will happen and will increase labor’s consumption. Then, demand is increased and employer’s profit also will increase by economic evitalization.

 

In conclusion, government have to carry out the both side’s compromise policy.  But government must consider more labor’s living than employer’s profit so government have to rise the 20% of minimum wage.