[Breaking News] Next Year's Minimum Wage Set at 9,160 Won... 5.1% Increase

At the 9th plenary meeting of the Minimum Wage Commission held at the Government Sejong Complex on the 12th, nine employer representatives are seen speaking. The fourth person from the left is Ryu Ki-jung, Executive Director of the Korea Employers Federation (KEF).
(Photo by Moon Chae-seok)

[Sejong=Asia Economy Reporter Moon Chaeseok]

The minimum wage for next year has been set at 9,160 won per hour, a 5.1% increase from this year.

The Minimum Wage Commission, a social dialogue body that deliberates and decides on the minimum wage, resolved at its 9th plenary meeting on the night of the 12th to set next year's minimum wage at 9,160 won.

This amount is 440 won (5.1%) higher than this year's minimum wage (8,720 won per hour).