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[Newsmaker] Shinsegae to implement 35-hour workweek ‘with no pay cut’

Korean retail giant Shinsegae decided to institute a 35-hour workweek to enhance employee’s working conditions, the company said Friday. The move marks the first time for a local conglomerate to implement such a short work week.

Under the policy, all employees from Shinsaegae’s retail sectors are set to work seven hours a day from January. Working hours are from 9 a.m. to 5 p.m., but it could be flexible depending on the types of work. 

Shinsegae Group Vice Chairman Chung Yong-jin (Yonhap)
Shinsegae Group Vice Chairman Chung Yong-jin (Yonhap)

The wages, however, will be secured the same as before, and an annual salary increase will also be continued.

According to Organization for Economic Cooperation and Development data, Koreans worked an average of 2,113 hours in 2015, the second highest among the OECD members.

The government has pledged to reduce the annual working hours to about 1,800 hours level.

By Park Ju-young (