Overseas Filipino Workers (OFWs) working in Korea, here’s a wonderful news for you.
A recent article published by the Inquirer tells us that the “Republic of Korea’s new minimum wage for all workers, including Filipino workers under the Employment Permit System, will be increased in 2017.”
This is according to a statement released by Silvestre Bello III, Secretary of the Department of Labor and Employment (DOLE).
Bello confirmed that Korea’s Ministry of Employment and Labor (MOEL) has adjusted their minimum wage for 2017 for 2017 at 6,470 won (approximately US$ 5.83) per hour. In comparison with the current year’s wage of 6,030 won per hour, the new rate is higher by up to 7.3%.
“About 24,490 Filipino employees in small and medium manufacturing industries, mostly in factories in Korea under the government to government hiring or the Employment Permit System (EPS) shall be covered by next year’s new base rate.”
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When calculated, this will mean that the new rate will mean a daily wage of 51,760 won for 8 hours of work or 258,800 won for 40 hours per week. This could add up to 1,352,230 million won for full-time workers who render 209 hours per month.
South Korea minimum wage has constantly increased over the past few years. In 2014, it was 7.2%. In 2015, it was 7.7% while in 2016, it was 8.6%. This is one of the reasons why the country has become one of the favorite destinations of OFWs.
MOEL said that the increase will be effective for at least 3.36 million workers in Korea which includes foreign workers. As the Inquirer article tells us, the “minimum wage in Korea covers all employees as defined in the Labor Standards Act, regardless of their employment status or nationality.”
In cases where an employer fails to meet his or her obligations regarding the prescribed salary, Bello encourages OFWs to seek help from the Philippine Overseas Labor Officer (POLO).