Public Interest Member of Minimum Wage Commission Proposes Deliberation Promotion Range of 9030 to 9300 Won (Update)

At Least a 3.6% Increase Compared to This Year's Minimum Wage

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The public interest commissioners, who hold the key to deliberations on the minimum wage, proposed a range of 9,030 to 9,300 won for next year's minimum wage increase on the 12th.

At the 9th plenary meeting of the Minimum Wage Commission held at the Government Complex Sejong on the same day, the public interest commissioners, including Chairman Park Junsik, suggested a facilitation range of 9,030 to 9,300 won for next year's minimum wage deliberations.

The minimum wage deliberations proceed by narrowing the gap between the demands submitted by the worker representatives and the employer representatives. If the gap is not narrowed, the public interest commissioners propose a facilitation range and request that revised proposals be submitted within that range. Currently, the third revised proposals submitted by the labor and management sides for next year's minimum wage are 10,000 won (a 14.7% increase) and 8,850 won (a 1.5% increase), respectively.

The facilitation range proposed by the public interest commissioners, who hold the casting vote in the labor-management conflict, is noteworthy as it reflects their basic stance on the minimum wage. The lower limit of the facilitation range proposed by the public interest commissioners on this day, 9,030 won, is 3.6% higher than this year's minimum wage (8,720 won), and the upper limit, 9,300 won, is 6.7% higher than this year's minimum wage. In other words, the public interest commissioners proposed a minimum wage increase rate of 3.6 to 6.7% for next year.