• Journal of Digital Convergence
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• v.16 no.10
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• pp.145-153
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• 2018

Recently the Korean society has suffered severe conflicts over the rate of increase in the minimum wage, while academics have failed to provide appropriate standards through reliable research. Recent foreign studies using natural experimentation or meta-regression analysis show that the increase in minimum wage has little effect on employment. Domestic studies are not yet numerous in number, and they present different conclusions on employment effects depending on the data used, sample period, and research model. To properly assess the employment effects of the minimum wage, future studies should minimize measurement errors in minimum wage dataset, and appropriately consider the endogenous change of minimum wage, economic situation and trends of employment changes. It is also necessary to utilize natural experiment methods before and after the increase of the minimum wage.

• The Journal of the Korea Contents Association
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• v.19 no.2
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• pp.248-258
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• 2019

The importance of the creative class has been emphasized as the industrial structure changes. However, there are only a few studies on gender wage difference in the creative class. The purpose of this study is to analyze the various factors influencing the gender wage gap in the creative class by using labor panel data. The results of this study are as follows: First, it was found that the wage of the male creative class is higher than the wage of the female creative class. Second, there were different factors affecting wages depending on the gender of the creative class. Third, female workers in the creative class suffer wage discrimination due to differences, but a larger part is due to gender discrimination. Fourth, compared to the non-creative classes, the gender wage gap of the creative classes was small. The gender gap caused by discrimination was the highest among the younger generation.

• Journal of Labour Economics
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• v.41 no.4
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• pp.63-105
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• 2018

This paper analyzes the effects of three factors on the firm-size wage premium which have not been considered in previous studies: the worker compositions within firms, the wage differentials between contractors and subcontractors, and the performance pay and rent-sharing behaviors of firms. The main results are as follows. First, even after controlling for the various worker characteristics, the differences in shares of highly educated workers, managers, and professionals between large and small firms make the size-wage premium larger. Secondly, wage differentials between contractors and subcontractors also affect the size-wage premium in the manufacturing sector. Thirdly, high performance pay and active rent-sharing behaviors of large manufacturing firms make the size-wage premium larger. These results imply that a positive matching effect among skilled workers, a structural problem between contractors and subcontractors, and differences in rent-sharing behaviors between large and small firms have affected the firm-size wage premium in the South Korean labor market.

• Journal of the Korea society of information convergence
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• v.5 no.2
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• pp.49-58
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• 2012

Korea has entered into an aging society at an exceptionally high speed. Increasing aged workers give pressure on Korean companies with seniority based pay system with labor costs. The wage peak system has been introduced to Korean companies as an alternative to early retirements. The wage peak system currently adopted in Korea is mainly the aging-limit-security model. But in the future we should actively adopt the employment-extension model. To operate wage peak system successfully, I suggest introduction of the individual wage peak system, development of suitable jobs for the aged, selective application by job classification, incentive graded by performance evaluation, and working hour reduction with the decreased rate of wage.

• Journal of Labour Economics
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• v.39 no.2
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• pp.1-34
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• 2016

We estimate the effect of an increase in the minimum wage on employment. In Korea, there is no exogenous variation in the minimum wage across regions or industries. One single minimum wage is applied to every worker in the whole country. In this paper, we exploit arguably exogenous variation in the proportion of workers affected by the minimum wage across worker groups defined by age, sex, education, tenure and establishment size. Using the data from the Survey on Labor Conditions by Type of Employment (SLCTE) from 2006 to 2014, we find that a 1% increase in the minimum wage decreases the full-time equivalent employment by about 0.14%. The effect is heterogeneous across workers; we find the effect is more adverse for female workers, low-educated, younger and older workers, workers with a shorter tenure, and workers in small- and medium-sized establishments.

• Journal of Labour Economics
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• v.37 no.2
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• pp.1-47
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• 2014

Longitudinal analysis of individual wage data received from the Korea Labor and Income Panel Survey (KLIPS) for the 1998-2012 period reveals that nominal wage reductions are prevailing among job stayers. It is also found that the probability of nominal wage cut is higher in the period of lower inflation or higher unemployment, and affected by various individual or group characteristics. Additional analysis of two establishment-based average wage series and the KLIPS shows that real wages are substantially procyclical, which is attributed to the strong procyclicality of nominal wages rather than countercyclicality of inflation. Current findings defy wage-rigidity-based explanations of unemployment fluctuations or models that predict wage rigidity, inlcluding segmented labor market hypotheses.

• Journal of Fashion Business
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• v.19 no.3
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• pp.73-87
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• 2015

The purpose of this study is 1) to compare the employment status and wage level of "Clothing and Fashion" major (CF major) graduates with those from other majors and 2) to examine factors affecting the employment status and wage level of CF major university graduates. The data were pooled from the 2009-2012 Graduates Occupational Mobility Survey Data, conducted by Korea Employment Information Service. First, when graduates of CF major were compared with other majors in the same academic area-natural science and arts-, the rate of employment was higher for CF majors than that of other majors; on the other hand, there is no difference in the wage levels between those with graduates in CF majors and those with other majors. Second, we examined factors affecting CF major graduates' employment and wage level based on graduates' individual factors, university factor, and job preparation factors. Employment status of graduates in CF major was predicted by respondent's gender and university type, and work experience. The wage level of CF major graduates was significantly predicted by individual factors (e.g., gender and age, university factors (e.g., university type, university program, location), and job preparation factors (e.g., certificates, overseas experience of foreign language training, English test scores). The results of this study would provide a guide to direct university educational program in order to assess the current capabilities in the field of clothing and fashion.

• The Journal of Industrial Distribution & Business
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• v.12 no.8
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• pp.41-52
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• 2021

Purpose: The study aims to analyze effects of wage on FDI inflows based on the threshold of institutional quality in 14 developing economies of Southeast and South Asia over the period from 2000-2017. Research design, data, and methodology: The study applies a fixed effect panel threshold regression. As a proxy for the institutional quality, it uses the six components of Worldwide Governance Indicators or a compound index obtained by an average of the six components. The data were taken from World Bank, the Chinn & Ito Database, and UNCTAD. To the best of our knowledge, no researches so far have considered the threshold of institutional quality in estimating the effect of wage on FDI inflows. Results: The composite index and each component of the six indicators of institutional quality except for voice and accountability, and regulatory quality are found to have nonlinear effects on FDI inflows. When the institutional quality is below the threshold, wage affects FDI inflows negatively. When the institutional quality is above the threshold, however, wage does not significantly affect FDI inflows. Conclusions: The effect of wage on FDI inflows varies depending on whether the institutional quality of the target countries is above or below the threshold.

• Korean Security Journal
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• no.12
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• pp.89-116
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• 2006

As the society changes, the Private Security has developed highly in a short time. However, it has brought about various problems. The best urgent problem of those problems is the wage problem. This study is examining into the difference with the wage satisfaction and devotion to organization, and analyzing influence that wage satisfaction has on devotion to organization. According to this research, the first, women appeared higher numerical value than men in satisfaction with a wage level, wage disparity, wage system and the welfare system and the highest age group is over 26 year-old. While the college graduates appeared high satisfaction with a wage level and wage disparity, the university graduates is high satisfaction with wage system and the welfare. This shows that as the scholarship is high, they think they must be getting wages higher and higher as their work result or produce. The second, in devotion to his(her) organization, the men is higher than the women. The third, the men show the high emotional devotion because the men devote to his work on his own initiative while the women show the high continuos service devotion because they are passively. The fourth, over the 26-year old group appeared high level in devotion to his(her) organization, the university graduate group appeared high level both the emotional devotion and the continuous service devotion. The long-term employed person showed the satisfaction with job position, pay grade, and career and also appeared high in devotion to his(her) organization. The fifth, as the scholarship is low, they were concerned about a wage level and wage disparity but, as the scholarship is high, they were concerned about the wage system and the welfare. The wage satisfaction has influence on the scholarship, job position and career therefore, the long-term employed persons showed high wage satisfaction and devotion to his(her) organization. In conclusion, for the development of Private Security and high devotion to organization, the wage level of private security guards must be systematize and the quality of the welfare must be improved. And the many factors about the wage and welfare must be studied and analyzed to occupy as one of the skill lists through the educational-industrial collaboration.

• Journal of Digital Convergence
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• v.14 no.12
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• pp.141-153
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• 2016

The purpose of this study is to predict future of wage-peak system by using text mining, futures wheel and polarity voting (+, -) techniques after reviewing a variety of documents. For this study, we collected articles, news articles, SNS(Twitter, Blog), research report documents. Above all, we extracted keywords for main subject words by utilizing text mining techniques. Next, we drew a final conclusion about future of wage-peak system by using futures wheel and polarity voting techniques. The result showed that future of wage peak system is positive. Two of five main topics were negatively predicted (favor/oppose of wage-peak system, solving task of wage-peak system), however, three of five main topics were positively predicted (background of wage-peak system, purpose/reason of wage-peak system, alternative wage-peak system). Therefore, because three of the five main topics were positively predicted, the future for wage-peak system is positive.