Next Year's Minimum Wage Set at 10,700 Won... Government Says "Objections from KCTU and Micro Enterprises Association Not Accepted"
On August 5, the Ministry of Employment and Labor finalized and announced the minimum hourly wage to be applied in 2027 at 10,700 won. This is an increase of 380 won (3.7%) compared to this year’s minimum hourly wage of 10,320 won.
The monthly minimum wage, based on 209 working hours, amounts to 2,236,300 won. It will be applied equally to all workplaces, regardless of business type. No separate minimum wage is set for piece-rate workers.
The Ministry of Employment and Labor opened an objection period from July 16, when the 2027 minimum wage proposal was announced, until July 27. During this period, both the Korean Confederation of Trade Unions and the Korea Federation of Micro Enterprises raised objections. However, after taking into account the intent and content of the Minimum Wage Act and the deliberation and resolution process of the Minimum Wage Commission, the ministry decided not to accept the objections.
The ministry plans to promote and provide guidance, as well as conduct worksite supervision and inspections, to ensure that next year’s minimum wage is properly observed in workplaces.
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