South Korea has finally dropped its highest working hours from 68 hours a week to 52 hours. The bill, which went into force in July 2019, gained an amazing stake in the National Assembly in an attempt to narrow the time employees spend on doing their hectic jobs. Now, this is something many of the Indians working in the IT sector must be feeling jealous of right now. In India, people are forced to work for more than 70 hours a week in the corporate sectors. Sometimes they are even called on the weekend days to work.
In the Indian corporate world, employees face huge trouble in dealing with the work culture and hectic lifestyle and office politics and the environment. Most of the employees feel stressed out due to the hectic hours of job and amount of work given to them. This affects their mental as well as physical state of mind and thus making them stressed. The regulation in South Korea comes into power in July and will apply to huge organizations before being turned out to smaller companies. The cut was a campaign commitment by President Moon Jae-in, who also achieved a 16% rise in the minimum wage this year.
Over the past few decades, South Korea has grown and developed strongly. The new South Korean bill clearly states that bounding work hours is one resolution that should be followed with other vital actions, like prepaid family leave and paid sick time. These factors will contribute to a good work balance of the person. After the implementation of this bill, many Indians must be jealous of the Koreans as well.
The new bill of South Korean work week will consist of 40 regular hours and an extra 12 hours of overtime. It could require companies an additional 12tn won ($11bn) a year to secure the same levels of results and production mostly in the manufacturing sector. These figures are given by a study conducted by the Korean Economic Research Institute. If we talk about the Indian manufacturing sector in both rural and urban areas, people work for more than 80 hours a week and even their wages are too low.