Further hikes to the minimum wage are likely to hinder South Korea's economic growth,... by slowing down short-term employment.<br />That's according to the International Monetary Fund's assessment released this week.<br />The report cited sluggish global trade,... especially in semiconductors,.. as well as the country's slowing employment growth,... as factors that threaten the economy.<br />It noted the sharp increases in the minimum wage,... of 16-point-four percent in 2018 and 10-point-nine percent this year,... have likely hurt the employment prospects of low-skilled workers.<br />The IMF report advised against initiating another steep hike to the minimum wage,... and said that next year's increase should be below the labor productivity growth rate. <br />
