Yoon: "Minimum Wage Decided by Committee... We Must Unite to Overcome Economic Crisis"

[Image source=Yonhap News]

[Asia Economy Reporter Ki-min Lee] President Yoon Suk-yeol said on the 4th, "I believe that to overcome the difficult economic crisis, we must all work together."

On that day, President Yoon made the remark during his commute to the Yongsan Presidential Office when asked by reporters about the decision to raise the minimum wage by 5.0% during his Madrid visit.

However, President Yoon refrained from making direct comments, saying, "Legally, the minimum wage is decided by the Minimum Wage Commission, so I am not in a position to comment on that."

Earlier, the Minimum Wage Commission, a social dialogue body that deliberates and decides on the minimum wage, held its 8th plenary meeting at the Government Sejong Complex on the 29th of last month and resolved to set next year's minimum wage at 9,620 won, which is 460 won (5%) higher than this year's minimum wage of 9,160 won.