Yongin City's Living Wage for Next Year Set at 11,190 Won

[Asia Economy (Yongin) = Reporter Lee Young-gyu] Yongin City in Gyeonggi Province has finalized the living wage at 11,190 KRW per hour.

Yongin City announced on the 5th that it held a Living Wage Committee meeting on the 30th of last month and confirmed the 2023 living wage for Yongin City at 11,190 KRW per hour, a 3.4% increase from this year.

This amount is 1,570 KRW higher than the government-mandated statutory minimum wage for next year, which is 9,620 KRW per hour. Based on a 40-hour workweek and 209 working hours, workers will receive 2,338,710 KRW next year.

The living wage is a wage set by each local government that comprehensively considers workers' housing, education, and cultural expenses to maintain human dignity and enable a practical standard of living. Approximately 1,360 workers, including fixed-term employees affiliated with the city and employees of investment and contribution institutions, will be subject to this wage. However, it does not apply to workers in simple labor public work projects, regional community job projects, or those receiving wages above the living wage in government or provincial subsidy projects.

Generally, the amount is higher than the minimum wage announced by the government, but it varies by local government.

Since enacting the "Yongin City Living Wage Ordinance" in 2016, the city has introduced the living wage system and annually announces the living wage determined by the city’s Living Wage Committee.

A city official stated, "The living wage supplements the limitations of the minimum wage and is applied to improve the treatment and quality of life of low-wage workers," adding, "We will do our best to ensure this standard is widely expanded to the private sector."

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