Minimum Wage Standoff: 11,900 Won vs. 10,360 Won, Gap at 1,540 Won

Gap Narrows from Initial 1,680 Won Divide

The labor and business sectors were at a standoff during the final public meeting to determine next year's minimum wage, as each side presented their proposals of 11,900 won and 10,360 won, respectively.

Both sides submitted their second revised proposals at the 10th plenary session of the Minimum Wage Commission, held at the Government Complex Sejong on June 30. The gap narrowed from 1,680 won to 1,540 won, but the difference remains significant. It is expected that both parties will continue to propose further revisions in an attempt to close the gap.

Kwon Soon-won, Chairperson of the Minimum Wage Commission, is attending the 10th plenary session of the Minimum Wage Commission held at the Government Complex Sejong on the 30th. Photo by Yonhap News

Previously, the labor sector initially demanded a minimum wage of 12,000 won for next year, a 16.3% increase from this year, while the business sector requested the wage be frozen at this year's level of 10,320 won.

In the first round of revised proposals, the labor sector lowered its initial demand by 30 won to 11,970 won, and the business sector raised its offer by 20 won to 10,340 won, narrowing the gap from 1,680 won to 1,630 won.

At the request of Kwon Soon-won, Chairperson of the Minimum Wage Commission, for additional revisions, both sides submitted their second revised proposals. The labor sector lowered its offer by 70 won from the first revision to 11,900 won, while the business sector increased its offer by 20 won to 10,360 won.

The minimum wage is determined each year by a commission comprised of 27 members: nine representing workers, nine representing employers, and nine representing the public interest. After the initial proposals from labor and management, both sides repeatedly submit revised offers in a process aimed at narrowing the gap.

This content was produced with the assistance of AI translation services.