# Legal Stance on Minimum Wage: A Comparative Analysis of the United States and South Korea

In order to understand the differing approaches to minimum wage legislation around the world, we can examine the legal frameworks in two countries: the United States and South Korea. Both nations have established laws to govern the minimum amounts employers are required to pay their workers, but the specifics of these laws, including the rates and the mechanisms for updates, vary considerably.

## United States: The Fair Labor Standards Act (FLSA)

### Historical Background
The Fair Labor Standards Act (FLSA), enacted in 1938, is one of the most significant labor laws in the United States. It was designed to protect workers against certain unfair pay practices and labor regulations. Since its enactment, FLSA has been amended multiple times to adjust to the changing economic and social climates of the nation.

### Key Provisions
Under the FLSA, the federal minimum wage is set at $7.25 per hour as of the last update in 2009. This base rate applies to covered nonexempt workers, which includes most hourly workers and some salaried workers, depending on their job duties and salary levels.

#### Tipped Employees
A specific provision under the FLSA concerns tipped employees, such as waiters and bartenders, who receive a significant portion of their income from tips. The federal minimum wage for these employees is substantially lower, set at $2.13 per hour. This is permissible as long as the combination of tips and direct wages meets at least the standard federal minimum wage.

#### State Variations
It is important to note that states within the U.S. can set their own minimum wages above the federal rate, and many do. When state and federal minimum wages differ, the higher wage prevails. As a result, the actual minimum wage paid by employers can vary significantly from one state to another.

## South Korea: The Labor Standards Act

### Historical Background
The Labor Standards Act of South Korea is the principal legislation governing labor practices, including wages and working hours, in the country. Similar to the U.S., South Korea’s approach to labor laws has evolved in tandem with its rapid economic development and the changing dynamics of its labor markets.

### Key Provisions
The minimum wage in South Korea is reviewed and adjusted annually by the Minimum Wage Commission, a tripartite body that includes representatives from the government, employers, and employees. This frequent adjustment aims to reflect changes in the cost of living and economic conditions.

#### Current Rates
As of the most recent update, the minimum wage in South Korea stands at 9860 won per hour. This rate applies uniformly across all sectors and regions, providing a standardized wage floor for all workers in the country.

#### Impact on Economic and Social Welfare
The regular updates to the minimum wage are part of South Korea's broader efforts to improve living standards and reduce income inequality. The approach seeks to balance between ensuring fair wages for workers and maintaining economic competitiveness.

## Conclusion
While both the United States and South Korea have established minimum wage laws to protect workers, their approaches reflect differing economic philosophies and labor market structures. The U.S. sets a federal baseline and allows states to enhance it, reflecting the country’s preference for a federated system of governance. In contrast, South Korea updates its minimum wage annually with a uniform rate across the country, demonstrating a centralized approach to economic management. These methods illustrate how each country adapts its legal frameworks to meet its specific economic and social needs.