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金泳宗 동국대학교 경주대학 1993 東國論集 Vol.12 No.-
The government has made the various kinds of regulation to the decision process of wage for the price stabilization or the capital accumulation. They type of wage regulation by the government can be divided into the four sorts of policies which are the control policy, regulation policy, free bargaining policy, and quasi-bargaining policy. The Korean government adopted these four types of wage regulation policies all in turn through the industrialization process since 1970s the measurement for inflation and international competition. The control policy which contains both the guideline for wage increasing and the strong intervention to the wage decision mechanism made some contribution to the price stabilization in short term, but brough about uprising of the price and strike at the end control period. The regulation policy and quasi-bargaining policy which had the similar effects and the experiment of free bargaining policy in the 6th Republic also failed. So the new government are trying to practice the bargaining system with social consensus which can be easily seen in Western Europe. At any rate we may conclude that the better wage stabilization policy must be changed according to socioeconomic environments and will be at the middle point between strong control policy and free bargaining policy.