53% of public institutions adopt peak wage system
Korea JoongAng Daily

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53% of public institutions adopt peak wage system

Published: 01 Oct. 2015, 21:00
The Finance Ministry announced on Thursday that 53.2 percent out of the 316 public institutions, or 168, have
adopted 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.
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