Submission of 2nd Minimum Wage Revision Proposal... 'Labor Sector 10,090 Won vs Management Sector 9,310 Won'

On the afternoon of the 29th, Ryu Ki-jung, Executive Director of the Korea Employers Federation, a user committee member (right), and Lee Dong-ho, Secretary General of the Korean Confederation of Trade Unions, a labor committee member, are heading to the 8th plenary meeting held in the Minimum Wage Commission meeting room at the Government Complex Sejong in Sejong City.
[Photo by Yonhap News]

On the afternoon of the 29th, labor and management presented their second revised proposals at the 8th plenary meeting of the Minimum Wage Commission (MWC) held at the Government Complex Sejong.

The MWC, a social dialogue body that deliberates and decides on the minimum wage, resumed its plenary session that afternoon to continue discussions on next year's minimum wage.

The worker representatives proposed a second revised minimum wage of 10,090 KRW per hour, which is 10.1% higher than this year's minimum wage.

Previously, the worker representatives had initially requested 10,890 KRW but then submitted a revised proposal lowering it by 550 KRW to 10,340 KRW.

On the other hand, the employer representatives presented a second revised proposal of 9,310 KRW per hour, 1.6% higher than this year's minimum wage. Initially, the employers had demanded a freeze at 9,160 KRW but later revised it to 9,260 KRW.

Although both labor and management submitted second revised proposals, the gap remains large, making it difficult to find common ground. The minimum wage deliberations proceed by narrowing the gap between the initial demands submitted by both sides.

If the positions do not converge despite the revised proposals, the public interest commissioners' proposal will be put to a vote to determine next year's minimum wage level. The MWC consists of 27 members: 9 worker representatives, 9 employer representatives, and 9 public interest commissioners. Due to the significant differences between labor and management, the public interest commissioners usually hold the 'casting vote.'