[Breaking] Next Year's Minimum Wage Finalized at 8,720 Won... Effective from January Next Year
[Asia Economy Reporter Kim Suwan] On the 5th, the Ministry of Employment and Labor announced that next year's minimum wage has been finalized at 8,720 won per hour.
This is a 1.5% increase from this year's minimum wage (8,590 won), marking the lowest rate of increase since the minimum wage system was introduced in 1988.
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Next year's minimum wage will be applied uniformly to all workplaces.
This content was produced with the assistance of AI translation services.
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