Small Businesses Told to Brace for Shorter Working Week
01 December, 2020
The 52-hour cap on the working week kicks set for small and medium-sized enterprises in January subsequent year although they have asked for another grace period amid the devastation of the coronavirus epidemic.
The Ministry of Labor and Occupation on Monday said the grace period for SMEs with 50 to 299 employees will end this year as planned.
The Korea Federation of Little and Method Businesses in a statement asked the government to reconsider its decision.
The 52-hour cap was put on large businesses with an increase of than 300 employees in July 2018 and was to extend to smaller businesses this January, however the government granted a one-year grace period to adjust to the changes.
SMEs account for a whopping 99 percent of most businesses and 83 percent of employment on Korea.
A vacancy signal hangs on a retailer in Seoul on Monday.
According to data simply by the Korea SMALL COMPANY Institute on Mon, the total quantity of employees by SMEs stood at 24.36 million in October, down 479,000 from a year earlier. Their amount dropped sharply specifically among young personnel and females as the epidemic strike their employers hard.
Koreans are subject to a few of the longest performing hours found in the developed world, and loss of life from overwork is common enough to have got its own name. Nonetheless many staff have complained about the required cap since it means they are able to earn less overall for overtime, and businesses lay claim they cannot afford to hire extra staff.
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