President Moon Jae-in has apologized to the people of Korea for not being able to keep his campaign pledge to raise the minimum wage to 10-thousand won an hour.<br />That's about eight-and-a-half U.S. dollars, the level he'd said it would reach by the year 2020.<br />But talks between labor and management last week set next year's rate far lower.<br />Here's the President's chief of staff for policy earlier today. <br />“He said that as president it is extremely regrettable that he was not able to keep a promise to the people. He then ordered detailed measures to be prepared on the government level.<br />President Moon reportedly said the Minimum Wage Commission made a difficult decision last week that took into account the country’s “economic conditions, employment situation and the receptiveness of the market.”<br />The Commission representing labor, business and market experts, voted to raise the minimum wage next year by 2-point-9 percent, far smaller than the almost-19-percent rise that would've been needed to keep the President's promise. <br />
