A delegation from the IMF has expressed concern over the pace of minimum wage hikes in South Korea.<br />In a meeting with Finance Minister Hong Nam-ki on Monday, IMF Korea chief Tarhan Feyzioglu also said labor market flexibility needs to be strengthened.<br />He added that raising the potential economic growth rate with expansionary fiscal and monetary policies is important to address a domestic and external economic crisis.<br />South Korea's minimum wage was hiked by double percentage-point digits on-year in 2018 AND 2019....and currently stands at seven U.S. dollars and 40 cents an hour. <br />
