Next Year's Minimum Wage to Increase by 380 Won... Set at 10,700 Won per Hour (Update)
14th General Meeting of the Minimum Wage Commission Held on July 14
Minimum Wage Decided by Vote After Breakdown in Agreement, Employer Proposal Adopted
Next year’s minimum wage has been set at 10,700 won per hour, an increase of 380 won (3.7%) from this year.
The Minimum Wage Commission held its 14th general meeting at the Government Complex Sejong on July 14 and made the decision.
Previously, labor representatives had demanded an initial minimum wage of 12,000 won for next year, up 16.3% from this year, while business representatives proposed a freeze at 10,320 won.
This year, the minimum wage was determined by vote after a failure to reach agreement between employer and employee representatives.
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Of the 27 members who voted—including representatives of workers, employers, and public interest groups—15 supported the employer side’s proposal of 10,700 won, surpassing the employee side’s proposal (which received 11 votes). The employee representatives had proposed 10,730 won. There was one invalid vote.
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