"Salary in Cash" ... Rep. Kim Hyeong-dong Proposes 'Prohibition of In-Kind Salary Act'

Recognition of Exceptions in Current Laws and Collective Agreements

Assemblyman Kim Hyeong-dong.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongwook Park] Kim Hyung-dong, a member of the Future United Party (Gyeongbuk Andong·Yecheon), announced on the 15th that he has proposed an amendment to the 'Labor Standards Act' that prohibits paying wages in forms other than currency, such as gift certificates or goods.

Under the current law, wages are principally paid to workers in currency, but exceptions are allowed if there are special provisions in laws or collective agreements. However, when wages are paid in gift certificates or goods instead of currency, workers face difficulties in converting them to cash due to differences from market prices and usage area restrictions, making it hard to fully preserve their value.

The amendment proposed by Representative Kim includes deleting the exception that allows wages to be paid by means other than currency, thereby guaranteeing workers' actual wages.

Representative Kim Hyung-dong emphasized, "There are still some people who complain about receiving wages in gift certificates or goods like cooking oil or sweet potatoes," and added, "We will codify the principle that 'monthly wages must be paid in money' to eliminate unnecessary disputes and worries."

This content was produced with the assistance of AI translation services.