Gyeonggi Province Sets 2027 Living Wage at 12,995 Won per Hour, Up 3.5% from This Year

Gyeonggi Province Raises Living Wage by 443 Won from This Year

Monthly Wage Set at 2,715,955 Won for 209 Hours of Work

21.4% Higher Than the Minimum Wage

Gyeonggi Province announced on September 9 that it has set the 2027 living wage at 12,995 won per hour. This is an increase of 443 won (3.5%) from this year's living wage of 12,552 won.

Gyeonggi Provincial Government Building. Provided by Gyeonggi Province

The living wage for next year is 2,295 won (21.4%) higher than the minimum wage of 10,700 won per hour set by the government. Converted on the basis of 209 working hours per month, the monthly wage will be 2,715,955 won, which is an increase of 92,587 won compared to this year.

The living wage will be applied starting January 1 of next year to workers directly employed by Gyeonggi Province and its affiliated public institutions, as well as indirectly employed workers engaged in private outsourcing projects commissioned by the province.

The provincial government explained that it determined the living wage after comprehensively considering inflation, worker livelihood stability, and fiscal conditions. Gyeonggi Research Institute established the calculation criteria by reflecting minimum wage levels and rates of increase, household expenditures, and average wage growth rates for workers. The final amount was confirmed through the deliberation of the Gyeonggi Province Living Wage Committee.

The living wage system is a policy of paying wages above the legal minimum to ensure that workers can maintain a real standard of living, taking into account costs such as housing, education, and culture. Gyeonggi Province was the first regional government to enact a related ordinance in 2014, and has operated the living wage policy since 2015.

To encourage expansion of the living wage system into the private sector, the province is also implementing a 'Living Wage Pledge Scheme.' Companies that pay the living wage receive additional points in Gyeonggi Province’s corporate certification or public contract evaluation processes.

Kim Dohyeong, Director of the Labor Bureau of Gyeonggi Province, stated, "Even under difficult fiscal conditions, we considered both the increased cost of living for workers due to inflation and their need for livelihood stability. We will continue to ensure that the living wage system is soundly operated to help improve actual living stability and quality of life for workers."

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