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Some organisations in South Korea reduce employees' wages when they near retirement under ‘wage-peak' systems.

On 4 April 2025, Korea's Constitutional Court voted unanimously to uphold the National Assembly's impeachment of President Yoon Suk Yeol for offences related to his declaration of martial law in December 2024.

From January 1, 2017, the new retirement age will also apply to small companies with less than 300 employees.

The Minimum Wage Council under the Ministry of Employment and Labor (MOEL) has set the 2026 minimum wage at KRW 10,320 per hour, a 2.9% increase from the current 2025 rate of KRW 10,030.

Since South Korea hosted the Summer Olympics in 1988, there have been numerous developments in employment and labor laws in the country.

Some organisations in South Korea reduce employees' wages when they near retirement under ‘wage-peak' systems.

The peak wage system is a system that gradually reduces the salary of employees while guaranteeing employment in exchange.

South Korea's new labour laws have been implemented to improve the quality of life for employees while increasing compliance challenges for employers.

임금피크제란, 근로자가 일정한 연령에 도달한 시점에 임금을 점진적으로 삭감하는 대신 근로자의 고용을 보장하는 제도로서, 한국에서는 2003년 신용ዥ