[Asia Economy Reporter Kim Bo-kyung] The labor and management sides have announced their third revised proposals for next year's minimum wage. The labor side proposed 9,110 won, a 6.1% increase from this year, while the management side proposed 8,635 won, a 0.52% increase. The public interest commissioners are attempting mediation to narrow the gap between the two positions.
On the 13th, the Minimum Wage Commission began final discussions to decide next year's applicable minimum wage. Earlier, the public interest commissioners presented a deliberation acceleration range setting the minimum wage floor and ceiling at 8,620 won to 9,110 won (an increase rate of 0.35% to 6.1%). Based on this range, they requested both labor and management to submit their second revised proposals.
The second revised proposals from labor and management matched the floor and ceiling suggested by the public interest commissioners. The worker representatives, excluding the Korean Confederation of Trade Unions (Minju Nochong), submitted 9,110 won, while the employer representatives submitted 8,620 won. The public interest commissioners requested both sides to bring more advanced third revised proposals.
Accordingly, the worker representatives brought the same 9,110 won as the second revised proposal, while the employer representatives proposed 8,635 won, which is 0.52% (45 won) higher than this year's minimum wage.
Park Jun-sik, chairman of the Minimum Wage Commission, adjourned the meeting around 11 p.m. and is currently discussing with the secretaries of both labor and management sides. A public interest commissioner told Asia Economy, "We plan to narrow the gap between labor and management further," adding, "There will also be discussions on the method of deciding the minimum wage."
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