Germany's Minimum Wage Raised by 14.8% to 16,900 Won per Hour

[Photo by AFP Yonhap News]

[Asia Economy Reporter Park Byung-hee] Germany's hourly minimum wage was raised by 14.8% from July 1st to 12 euros (16,900 won). Germany's minimum wage has increased by 25% over the past year.

Germany's minimum wage was 9.6 euros an hour a year ago, but it was raised by 22 cents to 9.82 euros per hour on January 1st this year, and then increased by an additional 63 cents to 10.45 euros on July 1st.

The newly formed traffic light coalition government (Social Democratic Party - Red, Free Democratic Party - Yellow, Green Party - Green), which took office on December 8th last year, pledged in their coalition agreement to raise the minimum wage to 12 euros, and this increase allows them to fulfill that promise.

Hubertus Heil, Germany's Minister of Labor, described this minimum wage increase as "a fair reward for work and an expression of respect for good labor."