Two Percent Increase in Next Year’s Public Enterprise Labor Costs

Starting from next year, the labor cost budget of government-funded institutions will increase by about 2.0 percent.

The Ministry of Planning and Budget (MPB) announced on November 21 that they have held a government-funded institution steering committee and decided on “2005 government-funded institution budget composition guides.”

The MPB has directed government-funded institutions to increase the total labor costs in the 2.0 percent range and prohibited them from using reward, welfare costs and others as a means for upholding wages.

Jae-Seong Hwang jsonhng@donga.com