But you have other experts and labor unions in the opposite camp, saying the minimum wage should be raised all the same.

Right. So labor unions actually called for a 43 percent increase, prior to the wage committee's decision, saying it's needed for socioeconomic growth.

"Policies to boost investment in corporations to, overall, boost employment have failed thus far. To pursue the policy of directly improving income and livelihoods, a dramatic minimum wage hike was needed. I think it's an exaggeration to say the wage hike could shake the national economy. There are other factors such as structural changes in the economy, rising rental fees, royalty charges and changing consumer trends that affect small businesses. As these issues are hard to solve immediately, we tend to point the finger at the minimum wage. However, the notion is that people must be hired at the adequate price."