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Biz News Korea(Eng)
S. Korean lawmakers agree on bill to cut weekly working hours to 52
- Collected
- 2018.02.28
- Distributed
- 2018.03.02
- Source
- Go Direct
The revision bill agreed by members of the National Assembly’s environment and labor committee after five years of stalled dispute calls for reducing the country’s maximum legal working hours to 52 hours a week from the current 68 hours. The change will be applied in stages to minimize possible impact on businesses.
Under the new law pending vote, companies with 300 or more employees will be subject to reduce maximum weekly working hours from July 1 this year, and those with 50 to 299 employees from January 1, 2020. The new guideline will apply to workplaces employing from five to 49 workers from July 1, 2021. Workplaces of 30 or fewer employees can extend the grace period.
When it comes to holiday work allowances, lawmakers agreed that companies should pay 50 percent of employees’ nominal wage when they work 8 hours or less that exceed 40 hours of weekly regular work. When they work more than 8 hours, companies should pay 100 percent of base salary as holiday allowance.
The proposed cut in working hours will likely aggravate sentiment for employers saddled with a series of measurers under the Moon Jae-in government favoring workers and higher labor cost.
By Jang Yong-seung and Lee Eun-joo
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]