http://www.koreanlaborlaw.com/labor-contract-under-the-labor-standards-act/ iNformation on laws and systems of Korean labor relations Mon, 08 Aug 2011 03:53:17 +0000 hourly 1 http://wordpress.org/?v=3.1.1 http://www.koreanlaborlaw.com/labor-contract-under-the-labor-standards-act/comment-page-1/#comment-179 admin Thu, 23 Dec 2010 05:57:23 +0000 http://www.koreanlaborlaw.com/?p=11#comment-179 Hi. According to the act on protection of fixed term workers, a labor contract up to 2 years is possible. When that 2 years elapse, the status of the concerned worker is changed to that of fixed-term contract to permanent contract. There is no laws for basic salary. But you can use minimum wage as a reference. Minimum wage for 2011 is hourly 4,320 Korean won. Supposing an employee works 40 hours a week, his/her minimum monthly wage is 902,880 Won, which is around 782.14 USD based on exchange rate of Dec.23, 2010. Hi. According to the act on protection of fixed term workers, a labor contract up to 2 years is possible. When that 2 years elapse, the status of the concerned worker is changed to that of fixed-term contract to permanent contract. There is no laws for basic salary. But you can use minimum wage as a reference. Minimum wage for 2011 is hourly 4,320 Korean won. Supposing an employee works 40 hours a week, his/her minimum monthly wage is 902,880 Won, which is around 782.14 USD based on exchange rate of Dec.23, 2010.

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