Suwon City Next Year's 'Living Wage' 10,570 Won... Targeting Over 4,400 People

Suwon Mayor Lee Jae-jun is presiding over the labor-management-government council to decide next year's living wage at the Suwon City Hall meeting room on the 18th.

The 'living wage' in Suwon City, Gyeonggi Province for next year has been decided at 10,570 KRW (hourly rate), which is a 1.7% increase from this year. This is 107.2% of the minimum wage for next year (9,860 KRW) announced by the Ministry of Employment and Labor.

The Suwon City Labor-Management-Civil-Government Council held its 2nd regular meeting on the 18th at the Suwon City Hall Situation Room, chaired by Mayor Lee Jae-jun, and finalized the living wage for next year at 10,570 KRW, a 1.7% increase from this year (10,390 KRW). When converted to a monthly salary, this amounts to 2,209,130 KRW (based on 209 working hours per month).

The Suwon City Labor-Management-Civil-Government Council explained that the living wage was determined by comprehensively reviewing domestic economic conditions such as the minimum wage increase rate, consumer price inflation rate, and the city’s financial situation.

The living wage in Suwon City applies to about 4,400 workers, including those employed by Suwon City and Suwon City-funded institutions, workers belonging to organizations or companies entrusted with tasks by Suwon City or providing construction or services to the city, and workers directly employed by their subcontractors. The 2024 living wage will be applied starting January 1 next year.

Mayor Lee Jae-jun of Suwon City said, "We will create a Suwon City where labor is respected," and urged, "I ask the members of the Labor-Management-Civil-Government Council to work hard to create a labor environment where workers’ rights are respected."

The Labor-Management-Civil-Government Council is a social dialogue consultative body where labor (workers), management (employers), civil (citizens), and government (local government) cooperate to revitalize the local economy and create a ‘job creation governance’ (public-private cooperation system).