Geumcheon-gu Sets Next Year's Living Wage at 10,540 KRW per Hour... Monthly Salary Decided at 2,202,860 KRW

Hourly wage increased by 233 KRW and monthly salary by 48,697 KRW (2.3% increase)... Amount 1,820 KRW per hour and 380,380 KRW per month higher than minimum wage of 8,720 KRW

Geumcheon-gu Government Complex

[Asia Economy Reporter Jongil Park] Geumcheon-gu (Mayor Yuseonghun) announced on the 21st that it held the Geumcheon-gu Living Wage Committee meeting and decided the 2021 Geumcheon-gu living wage to be 10,540 KRW per hour and 2,202,860 KRW per month.

The 2021 Geumcheon-gu living wage is 121% of next year's minimum wage of 8,720 KRW per hour, which is 1,820 KRW higher, and it increased by 2.3% compared to this year's living wage of 10,307 KRW. When converted to a monthly salary (based on 209 hours), it is 2,202,860 KRW, which is 383,800 KRW more than the minimum wage of 1,822,480 KRW.

Accordingly, workers directly hired by the district office and its invested and funded institutions (Facility Management Corporation, Cultural Foundation) who are subject to the living wage will receive a monthly wage increase of 48,697 KRW next year compared to this year.

The living wage system is a wage structure that guarantees a somewhat higher income than the minimum wage by comprehensively considering housing costs, education expenses, and inflation rates to ensure workers a minimum dignified life.

The district enacted the Living Wage Ordinance in October 2015 and has been implementing the living wage system since 2016.

Yuseonghun, Mayor of Geumcheon-gu, said, "Although the increase is small to cover the economic difficulties of workers caused by COVID-19, I hope it will help stabilize the lives of district workers even a little."

For inquiries, contact the Job Creation Division of Geumcheon-gu Office.

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