Gwangjin-gu Confirms 2021 Living Wage Hourly Rate at 10,702 Won

1.7% Increase Compared to Last Year's Living Wage... Applied to Directly Hired Workers at Gwangjin-gu and Its Funded Institutions

[Asia Economy Reporter Park Jong-il] Gwangjin-gu (District Mayor Kim Seon-gap) has confirmed the 2021 living wage at an hourly rate of 10,702 KRW.

The living wage is a wage system that considers prices, housing costs, education expenses, and cultural living expenses so that workers can maintain a practical livelihood. The district has been implementing it since 2016 after enacting the Living Wage Ordinance in 2015.

On the 23rd, the district held the Gwangjin-gu Living Wage Deliberation Committee meeting and comprehensively considered factors such as the inflation rate and the prolonged economic situation due to COVID-19, based on the 'Seoul-type 3-person household expenditure model,' to set next year's living wage.

The 2021 living wage in the district is 1.7% (179 KRW) higher than this year's living wage of 10,523 KRW, amounting to 10,702 KRW per hour, which is 1,982 KRW higher than the government's announced minimum wage of 8,720 KRW for next year. Converted to a monthly salary, this amounts to 2,236,720 KRW.

The confirmed living wage will be applied for one year starting January 1st of next year, and the applicable targets include ▲ workers directly hired by Gwangjin-gu and its funded or supported institutions ▲ participants in private consignment projects supported by district funds.

District Mayor Kim Seon-gap said, “I hope this will help stabilize the lives of workers who are going through even more difficult times due to COVID-19,” and added, “We will continue to prepare policies that can provide practical help to workers.”

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