New Minimum Wage Bills Target Small Businesses, May Affect Pharmacies

Legislation focusing on small businesses facing financial difficulties is being introduced in South Korea, prompting attention to possible effects on pharmacies. An amendment proposal would allow the minimum wage to be applied differently according to business size and region. In addition, a separate bill aims to provide proactive support to small retailers at risk of closure. People Power Party lawmaker Kim So‑hee presented a amendment to the Minimum Wage Act on the 15th, seeking to incorporate an employer's wage‑payment capacity and employment‑maintenance ability into the wage‑setting process. This follows the Minimum Wage Committee's decision on the 14th to set next year's minimum wage at 17,000 KRW per hour. The proposals are being watched by pharmacy owners who may be impacted by changes to wage obligations and support measures for small enterprises.