South Korean component suppliers express concerns over new wage ruling
Court ruling increases costs for manufacturers where bonuses are paid regularly.
Component suppliers have expressed their concerns over the recent court ruling on wages in South Korea, reports the Business Korea Daily News. Representatives of component suppliers held a meeting with the Korea Auto Industries Corporation Association (KAICA) and requested that the new ruling that mandates the inclusion of regular bonus pay in ordinary wages "be revised in a rational way that does not strangle the auto-parts industry".
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