Gwangju Seo-gu Sets Next Year's Living Wage at 11,930 Won... 9.25% Increase from This Year

[Asia Economy Honam Reporting Headquarters, Reporter Shin Dong-ho] Seo-gu, Gwangju Metropolitan City (Mayor Kim Yi-gang) announced on the 5th that it held a living wage deliberation committee on the 4th and decided the 2023 living wage to be 11,930 KRW per hour.

The Seo-gu living wage policy, implemented since 2015, guarantees workers a wage above the minimum wage to ensure a practical livelihood and living standards.

Considering the economic downturn due to COVID-19, household difficulties, the minimum cost of living for a three-person household, and consumer price inflation, Seo-gu calculated this year's living wage at 11,930 KRW, a 9.25% (1,010 KRW) increase from last year's 10,920 KRW.

This amount is 2,310 KRW higher than the government-set minimum wage of 9,620 KRW for next year and is the same as the living wage of Gwangju Metropolitan City.

The newly decided living wage will apply from January 1 next year to workers directly employed by Seo-gu or those belonging to private consignment institutions such as construction or service contracts. Based on an 8-hour workday and 209 hours per month, workers will receive 2,493,370 KRW monthly.

A Seo-gu official stated, "We hope this will contribute to the stabilization of the livelihoods and welfare improvement of workers struggling due to COVID-19."

Asia Economy Honam Reporting Headquarters, Reporter Shin Dong-ho baekok@asiae.co.kr