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영어

It is important that we settle up a problem of fair distribution under the Capitalistic economy. Therefore, there has enforced redistribution policy of income. We must enforce the redistribution policy of income to promote the social welfare. As part of the redistribution policy of income, Minimum Wage System was built in the world. It has been enforced since 1988 in Korea.
Each country has different types of the Minimum Wage System, a method of the minimum wage's decision and a standard of Minimum Wage in every country. The Minimum Wage System must play a role in protecting to low wage-employees; women, infants and part-time worker.
Judging from the policy effect of the poverty diminution effect and the resource distribution effect, the Minimum Wage System is necessary. However, the standard of Minimum Wage in our country is much lower than that in other Advanced countries.
In that respect the security of the minimum standard of living and the meaning of Social security policy, it is necessary for us to adjust the standard of Minimum Wage to be more realistic. We have to determine the standard of Minimum Wage, considering the minimum standard of living in National Basic Living Security Act, the Consumer Price Rising Ratio, the workers wage Rising Ratio, etc. It is necessary that the standard of Minimum Wage must be raised to the extend of the half standard of Average Wage. And there are necessary Legal system which observe Minimum Wage.
We must calculate Minimum Wages in due consideration of Living Wages which is enforced in England and U.S.A.