24,000 OFWs Will Benefit From Salary Hike Of South Korea

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In a news posted online by ABS-CBN News, we learn that about 24,000 overseas Filipino workers (OFWs) are expected to benefit from the upcoming minimum salary hike that will be implemented this coming 2017. This has been confirmed by a labor official from the Philippines.

The hike will have a direct impact on small and medium-sized manufacturing companies in the country.

The Ministry of Employment and Labor (MOEL) of South Korea has officially announced that companies in the country will be implementing a 7.3% increase which will raise basic wages from KRW 6,030 (Php 250.46) per hour to KRW 6,470 (P268.73) per hour.

What does that mean for OFWs? Or how does that add up on a daily and monthly rate?

Manuela Peña, Officer-In-Charge of the Philippine Overseas Labor Office (POLO) Officer, explained:

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“The new minimum wage translates to KRW 51,760 or P2,149.87 per day on an 8-hour working day. This is equivalent to KRW 1,352,230 or P56,165.28 per month.”

This, of course, is a welcome news for all the OFWs currently working in South Korea. Besides, the labor laws of South Korea assures everyone that this basic salary increase will be including “all employees, regardless of their employment status, whether temporary, daily or part-time employees, including foreign workers.” OFWs are excited because the hike means they will be able to earn more and provide better for their loved ones back home in the Philippines.

The South Korean government has likewise guaranteed everyone that they will closely monitor the implementation of the hike.

So if you are currently working in South Korea, do keep your eyes peeled for this upcoming hike. Ask your employers about it and in cases of non-compliance, be sure to get in touch with the authorities to report it.

Share this wonderful news with fellow OFWs now!

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