Christopher Mandel

2 months ago | lexology.com | Wansoo Lawrence Kim |Tae Eun Lee |Jahyeong Ku |Soojung Lee |Christopher Mandel

You can find our most recent regular legal update here. We have also published newsletters on other significant developments in December 2024 and January 2025, which are available at these links: Korean Supreme Court Redefines Ordinary Wage: Implications for Overtime Pay and Other Statutory Allowances, available at this link. Korea Labor Law Outlook in 2025, available at this link. For additional updates in Korean, please see our recent Korean-language newsletter available at this link.

Apr 30, 2024 | lexology.com | Wansoo Lawrence Kim |Tae Eun Lee |Jahyeong Ku |Soojung Lee |Christopher Mandel

For additional updates in Korean, please see our recent Korean-language newsletter available at this link. Statutes, Regulations & Guidelines1. Announcement of the Comprehensive Plan for Labor Inspections for 2024. The Ministry of Employment and Labor (“MOEL”) announced a comprehensive plan for 2024 labor inspections on February 5, 2024 (available here in Korean).

Nov 1, 2023 | lexology.com | Wansoo Lawrence Kim |Tae Eun Lee |Jahyeong Ku |Soojung Lee |Christopher Mandel

Statutes and Regulations1. Minimum wage set at KRW9,860/hour for 2024Pursuant to the Korean Minimum Wage Act, the government announced the 2024 minimum wage as KRW9,860 (approx. US$7.30) per hour. This is roughly a 2.5% increase from the 2023 minimum wage (KRW9,620 per hour). The 2024 hourly minimum wage corresponds to a monthly minimum wage of KRW2,060,740 assuming a standard 40-hour work week with 8 hours of paid weekly time off (totaling 209 hours a month). 2.

Jul 31, 2023 | lexology.com | Wansoo Lawrence Kim |Tae Eun Lee |Soojung Lee |Christopher Mandel |Jahyeong Ku

STATUTES AND REGULATIONSExpanded scope of industrial accident compensation insurance coverageEffective as of January 12, 2023, industrial accident compensation insurance began covering pregnant employees’ newborn children who suffer from injury, illness, or disability, or who die, due to an industrial accident involving the employee-mother, or from an accident during commuting to or from work, or from handling of or exposure to harmful factors while working.