Gwangju Seo-gu Confirms Next Year's Living Wage at 10,920 Won

[Asia Economy Honam Reporting Headquarters Reporter Shin Dong-ho] Seo-gu, Gwangju Metropolitan City (Mayor Seo Dae-seok) announced on the 30th that it held a living wage deliberation committee and finally decided the living wage standard amount for next year to be 10,920 KRW per hour.

The living wage is a policy that guarantees a practical livelihood by paying workers wages above the minimum wage, and it has been implemented since 2015.

Seo-gu decided next year’s living wage by considering the minimum cost of living for a three-person household, consumer price inflation rate, and other factors to ensure a minimum living standard for workers amid a real decrease in household expenses compared to the previous year and the economic downturn caused by COVID-19.

It was calculated at 10,920 KRW, a 3.8% (400 KRW) increase from this year’s 10,520 KRW, which is 1,760 KRW higher than the government’s next year minimum wage of 9,160 KRW and is the same as the living wage of Gwangju Metropolitan City.

The decided living wage will be applied from January 1 next year to workers directly employed by Seo-gu or those belonging to private consignment institutions such as construction and service contracts.

According to the Labor Standards Act, if working 8 hours a day and 209 hours a month, a monthly salary of 2,282,280 KRW can be earned.

A Seo-gu official said, “We hope this will contribute to the stabilization of the lives and welfare improvement of workers who are struggling due to COVID-19.”

Asia Economy Honam Reporting Headquarters Reporter Shin Dong-ho sdhs6751@asiae.co.kr

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