The wage system in Korea is based on an average wage and ordinary wage. The average wage is the basis for calculating severance pay and remuneration for accidents, whereas the ordinary wage is used for calculating additional allowances such as overtime payments.
In order to simplify the wage system, the dual system of average wage and ordinary wage should be changed to a simplified system of a standard wage.
The elements to be included in a standard wage would be of much interest for both the labor and management, so that much time will be needed to gather opinions from both parties, as well as academic circles, before reaching any final conclusions.
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