SEOUL, KOREA- The per-hour minimum wage has been determined at 5,210 won, up 7.2 percent (or 350 won) from current 4,860 won.

 

The Minimum Wage Council said on July 5 that it held a seventh council meeting on the 4th and decided on the wage level that will go into effect next year. At the meeting, all its 27 committee members, including nine from labor union, nine representing employers, and nine neutral parties, were present.

 

Of the 27 committee members, 15 cast "yay" votes and nine walked out without voting, while three did not participate in the voting. The three members representing the left-leaning Korean Confederation of Trade Unions walked out even before the new minimum wage proposal was made and other nine gave up on voting after the ballot-casting process began.

 

Based on the newly passed hourly minimum wage, workers will be able to earn 1,088,890 won a month on a 40-hours-a-week basis. The Minimum Wage Council estimated that the new rule will benefit up to 2,565,000 workers who are working under minimum-wage conditions.

 

Earlier, the labor had demanded a 21.6-percent hike to 5,910 won while the employers asked for a freeze of the minimum wage level at the current 4,860-won level.