Suwon City Next Year's Living Wage 10,390 Won... 1.7% Increase from This Year

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The 2023 'Living Wage' in Suwon-si, Gyeonggi Province has been set at 10,390 won (hourly wage). When converted to a monthly salary, it amounts to 2,171,510 won (based on 209 working hours per month).

The Suwon City Labor-Management-Civil-Government Council held its 2nd regular meeting on the 28th at the Paldal-gu Office situation room and resolved to raise next year's living wage by 1.7% from this year's 10,220 won.

This is 108% of next year's minimum wage (9,620 won) announced by the Ministry of Employment and Labor.

The Suwon City Labor-Management-Civil-Government Council determined the living wage by considering the overall economic situation, including ▲minimum wage increase rate ▲living cost inflation rate ▲average wage of urban working people ▲next year's financial conditions.

The living wage goes beyond the minimum wage and refers to a wage level that allows a person to maintain a 'decent human life.'

The living wage applies to about 4,000 workers, including those employed by Suwon City and Suwon City-funded and supported institutions, workers belonging to institutions or companies entrusted with office work by Suwon City or providing construction or services to the city, and workers directly employed by their subcontractors. The 2023 living wage will be applied from January 1 next year.

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