53% of public institutions adopt peak wage system
The Finance Ministry announced on Thursday that 53.2 percent out of the 316 public institutions, or 168, haveadopted the so-called peak wage
system.
The system is to provide job security in exchange for gradual wage reduction after a certain age.
The ministry was planning to adopt the system in every government institutions including public companies by December, but recently pushed up the date to October.
with the Korea JoongAng Daily
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