South Korea's Finance Ministry announced Wednesday that the public-sector wages for next year will be frozen at the current levels in a bid to overcome nation's deepening economic woes in the wake of the global financial turmoil.
The ministry added additional recruitment plans will also be put on hold except in some "inevitable cases."
"Talks are underway to make a final decision, but opinions on the wage freeze and the number of total employees outnumber the others," a Finance Ministry official said. "If decided, at least 101 institutes including 24 state-run companies will be obliged to follow the guidelines."
The approval will be made at a committee earlier next month where policymakers will discuss the 2009 budget for the public sector.
The move came as the South Korean government was grappling to shield the national economy from the external shocks sparked by the collapse of major American investment banks last month.
The public sector has been criticized for sluggish reforms and offering handsome payments and other benefits to its employees even during the slump of domestic economy.
As of end of 2007, South Korea's public sector had 259,159 employees whose wages increased around 3 percent last year, according to the Finance Ministry.
Source:Xinhua
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