Due to an abrupt change in legal adjudication, Korean companies might experience a significant rise in wage costs unless preemptive policy measures reduce the legal uncertainty in a coordinated manner. The situation in Korea is compared to that of Japan, with a similar statutory structure for employee wages and allowances.
- © 2017 by The Regents of the University of California
Errata: In the September/October 2016 issue (volume 56 number 5, pages 836 and 849), there was a technical printing error in Figures 1b and 2 of the article by Ajay Raina that resulted in a loss of data on the graphs. This online article contains the restored figures in their original, correct state. The error is regretted.