Taiwan’s Minimum Wage Review Committee needs to make a long overdue decision to increase minimum wage in 2020.
The News Lens
Date: 2019/08/01
By: Roy Ngerng
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Photo Credit: Shutterstock
Taiwan’s Minimum Wage Review Committee will be meeting on August 14 to discuss increasing minimum wage for Taiwanese workers in 2020.
In view of the upcoming discussion, let’s compare the state of minimum wage and economic conditions between Taiwan and South Korea, since both had followed similar developmental pathways in the past decades.
Taiwan’s Reluctance to Increase Minimum Wage
Taiwanese businesses have refused to increase minimum wage claiming that this would result in higher unemployment, but in fact they are in fear of losing their profits. In July, Nelson Chang (張安平), chairman of Taiwan Cement Corporation, opposed the government’s minimum wage increase proposaland said that wages should be linked to productivity. [FULL STORY]