Need to cut wages of public officials to tackle inflation: S Korea PM

South Korean Prime Minister Han Duck-soo said Monday that there is a need to reduce the wages of public sector officials to tackle red-hot inflation, reported Yonhap.

"Public officials should lower their wages to some extent by tightening fiscal policy," Han (above) told lawmakers at a parliamentary meeting.

When soaring inflation comes from both sides of supply and demand, Han said, "Everyone has to sacrifice their part."

Finance Minister Choo Kyung-ho has urged private firms to refrain from excessively raising paychecks, warning that such wage increases could fuel inflation.

Asked about Choo's remarks, Han said the government is in a "difficult position" to ask private firms to join measures to tame inflation.

- Bernama