Seongbuk-gu Decides 2021 Living Wage Hourly Rate Increase of 2.26% to 10,540 Won

Ministry of Employment and Labor Notice: Next Year's Minimum Wage Set 20.8% (1,820 Won) Higher Than 8,720 Won... Monthly Salary Equivalent (Based on 209 Working Hours) 2,203,010 Won

[Asia Economy Reporter Park Jong-il] Seongbuk-gu (Mayor Lee Seung-ro) confirmed the living wage at 10,540 KRW per hour at the Living Wage Deliberation Committee meeting held on the 8th in 2021.

The Seongbuk-gu Living Wage Deliberation Committee stated that this decision was made considering the government-announced minimum wage for the next year, price levels, and average wages of workers.

The 2021 Seongbuk-gu living wage is 2.26% (233 KRW) higher than this year's hourly rate of 10,307 KRW, and 20.8% (1,820 KRW) higher than the Ministry of Employment and Labor's announced minimum wage of 8,720 KRW for the next year.

When converted to a monthly salary (based on 209 working hours per month), it amounts to 2,203,010 KRW, which is 48,710 KRW more than this year's 2,154,300 KRW.

The living wage decided this time will be applied to direct and indirect employees of Seongbuk-gu and its affiliated organizations, as well as workers contracted by private consignment for the next year.

Mayor Lee Seung-ro said, “The amount was determined so that low-income workers can maintain their children's education expenses and a minimum cultural life, and I hope this will help workers who have become even more difficult due to COVID-19.”

This content was produced with the assistance of AI translation services.