Fourth Round of Minimum Wage Proposals: '11,700 Won vs. 10,410 Won'... Labor-Management Gap Narrows to 1,290 Won

Fourth Round of Revised Proposals Narrows Labor-Management Gap by 120 Won

In the negotiations between labor and management over next year’s minimum wage, a fourth revised proposal has been presented, narrowing the gap between the two sides to 1,290 won.

Yonhap News

On July 2, at the 11th plenary session of the Minimum Wage Commission held at the Government Complex Sejong, labor representatives proposed 11,700 won, while management proposed 10,410 won.

Compared to the third revised proposals presented earlier in the session, the labor side lowered its suggestion by 100 won, and the management side raised its proposal by 20 won. The difference between the two sides, which was 1,410 won during the third revision, has been reduced by 120 won to 1,290 won.

Labor and management plan to hold additional meetings next week to present further revised proposals and continue narrowing the gap. If no agreement is reached, public interest members will present a “deliberation facilitation range” that sets an upper and lower limit, or a vote will be held to determine next year’s minimum wage.

This year’s statutory deadline for the minimum wage review has already passed on June 29. However, since the minimum wage has typically been settled in July after the deadline in previous years, the final agreement is also expected to be reached in mid-July this year.

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