South Korea-based OFWs to benefit from minimum wage hike starting 2017

Date Posted: November 3rd, 2016 11:00 AM

The Philippine Overseas Labor Office (POLO) in Korea recently welcomed the new minimum wage rate of KRW 6,470 (Php P268.73) per hour for 2017 as announced by the Ministry of Employment and Labor (MOEL).

 

In her report to Labor and Employment Secretary Silvestre H. Bello III, Welfare Officer Manuela Peña, Officer In-Charge of the Philippine Overseas Labor Office (POLO) in Korea, said the new minimum wage rate for 2017, which is a boon to South Korea-based Filipino workers, represents an increase of 7.3 percent over the current minimum wage rate of KRW 6,030, or P250.46 per hour,” Peña said.

 

Labatt Peña also said that more than 24,000 OFWs in both small and medium manufacturing industries employed under the Employment Permit System (EPS) shall be covered by the new base rate next year.

 

The minimum wage, as defined in Korea’s Labor Standards Act, covers all employees, regardless of their employment status, whether temporary, daily or part-time employees; or nationality, including foreign workers.

 

The new minimum wage translates to KRW 51,760 (P2,149.87) per day on an 8-hour working day; or KRW 258,800 (P10,749.34) on 5 working days. This is equivalent to KRW 1,352,230 (P56,165.28) per month.

 

The South Korean government, through its Labor Standards Policy Department, shall closely monitor the employment conditions, support employment, and supervise the worksites to ensure that the new minimum wage is enforced.

 

END/Tim Laderas with a report from CMAM

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