Proposed 5th Revision of Minimum Wage... Labor Sector Demands 11,040 Won, Management Proposes 9,755 Won

For next year's minimum wage, the labor sector demanded 11,040 won, while the management sector requested 9,755 won.

Worker representatives from the labor side and employer representatives from the management side presented this 5th revised proposal at the 13th plenary meeting held on the afternoon of the 13th at the Government Sejong Complex. So far, labor and management have presented minimum wage demands six times.

[Image source=Yonhap News]

The gap has narrowed from the initial demand of 2,590 won (12,210 won - 9,620 won) to the 1st revision of 2,480 won (12,130 won - 9,650 won), the 2nd revision of 2,300 won (12,000 won - 9,700 won), the 3rd revision of 1,820 won (11,540 won - 9,720 won), the 4th revision of 1,400 won (11,140 won - 9,740 won), and the 5th revision of 1,285 won (11,040 won - 9,755 won).

The public interest commissioners, who play a mediating role, hold the position that it is best for labor and management to narrow the gap as much as possible and reach an agreement.

Park Joon-sik, Chairperson of the Minimum Wage Commission, said in his opening remarks that "the deliberation on the minimum wage to be applied next year is reaching its final stage," adding, "Although several efforts have been made to narrow the gap between labor and management, the difference is still not small."

He continued, "I earnestly ask for efforts to derive a minimum wage proposal that the public can accept, even though it will be difficult," and added, "We will do our best to ensure that labor and management narrow their differences as much as possible and decide through agreement."

Contrary to initial expectations that a conclusion would be reached at the plenary meeting that day, there is a prospect that discussions may continue until next week.

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