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2017.08.04
| Won | Pyongyang | Sinuiju | Hyesan |
|---|---|---|---|
| Exchange Rate | 8,130 | 8,110 | 8,125 |
| Rice Price | 5,770 | 5,740 | 5,800 |
South Korea has agreed to a 5% increase in the minimum wage for North Korean staff in the Kaesong Industrial Complex, it was announced this morning.
The increase takes the minimum wage for workers in the complex to a little over $60.
Announcing the decision this morning, a Ministry of Unification spokesman explained, “At a hard time for producers and workers in the Kaesong Industrial Complex, the companies judged a 5% wage increase to be reasonable,” adding, “We listened to the opinions of the South Korean companies, and then made the agreement with the North Korean side.”
The rise, backdated to take effect on August 1st, is in line with rises over the previous three years, although North Korea did demand a rise to $300, which was never met, in the first half of 2009.
In addition to the wage rise, the spokesman also announced measures to combat a concern of the companies in the Complex; that of autonomy over staffing decisions.
“Every company contains North Korean workers’ representatives, and these representatives have tended to mastermind changes to work team arrangements as they saw fit,” the spokesman explained.
However, he went on, “We have added measures so that, in future, workers’ representatives will not be involved in this area, and workers will be organized according to the independent judgment of the companies.”
The increase takes the minimum wage for workers in the complex to a little over $60.
Announcing the decision this morning, a Ministry of Unification spokesman explained, “At a hard time for producers and workers in the Kaesong Industrial Complex, the companies judged a 5% wage increase to be reasonable,” adding, “We listened to the opinions of the South Korean companies, and then made the agreement with the North Korean side.”
The rise, backdated to take effect on August 1st, is in line with rises over the previous three years, although North Korea did demand a rise to $300, which was never met, in the first half of 2009.
In addition to the wage rise, the spokesman also announced measures to combat a concern of the companies in the Complex; that of autonomy over staffing decisions.
“Every company contains North Korean workers’ representatives, and these representatives have tended to mastermind changes to work team arrangements as they saw fit,” the spokesman explained.
However, he went on, “We have added measures so that, in future, workers’ representatives will not be involved in this area, and workers will be organized according to the independent judgment of the companies.”
