North, South Korea reach deal on wage hike at joint factory park

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By Ju-min Park SEOUL (Reuters) - North and South Korea agreed to increase the minimum wage for North Korean workers at a joint factory park by 5 percent, a South Korean industry representative said, ending a months-long dispute despite heightened tensions on the Korean peninsula. The compromise, reached Monday, raises the monthly wage to $73.87 at the Kaesong Industrial Complex, which is just north of the heavily fortified inter-Korean border. "The fact that dialogue between South and North met with good results is welcomed and a good signal for stable management in Kaesong," Yoo Chang-geun, vice chairman of the Corporate Association of Kaesong Industrial Complex, said on Tuesday.




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