Rebar Processing Industry Raises Standard Unit Price by 21% in 3 Years... 63,000 KRW per Ton

[Image source=Yonhap News]

[Asia Economy Reporter Junhyung Lee] The Korea Rebar Processing Cooperative (Processing Cooperative) announced on the 10th that it held an emergency board meeting on the 3rd and passed the '2021 Rebar Processing Standard Unit Price Application Guidelines.'

According to the application guidelines, the standard unit price for rebar processing was raised from 52,000 KRW to 63,000 KRW per ton. The processing unit price for civil engineering rebar is 66,000 KRW per ton. The surcharge for seismic rebar processing remains the same at 15,000 KRW per ton. The processing unit price for seismic rebar was set at 78,000 KRW per ton.

The increase in the standard unit price reflects the rise in the minimum wage over the past three years, which had not been incorporated into the rebar processing standard unit price, as well as risks associated with the implementation of the 52-hour workweek system. Additionally, the cooperative explained that factors such as decreased productivity and increased costs due to more complex processing, additional expenses caused by labor shortages, and safety management costs following the enforcement of the Serious Accident Punishment Act were also taken into account.

The Processing Cooperative stated, "We attempted to raise the standard unit price in 2018 but faced various difficulties and could not increase the processing price," adding, "Since then, the standard unit price has remained unchanged despite various cost increases."

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