Next Year's Minimum Wage: 10,620 Won vs. 9,795 Won... 825 Won Gap Between Labor and Management Demands

Labor Sector "6th Amendment is the Final Version"
Management Sector, 9785 Won → 9795 Won

At the 14th plenary meeting of the Minimum Wage Commission held at the Government Complex Sejong on the 18th, labor and management each proposed the 7th revised minimum wage at 10,620 won and 9,795 won, respectively.

On that day, the management side proposed 9,795 won, which is 10 won higher than the 6th revised proposal (9,785 won). This represents a 1.8% (175 won) increase compared to this year's minimum wage. The labor side demanded 9,795 won, the same as the 6th revised proposal, which is a 10.4% (1,000 won) increase compared to the previous year.

Initially, labor and management proposed 12,210 won and 9,620 won, respectively. The gap between their demands narrowed from 2,590 won to 825 won (7th revision).

If labor and management fail to narrow the gap further, the public interest commissioners are likely to propose a "deliberation promotion range" and prepare a mediation proposal within this range to put to a vote. Instead of the deliberation promotion range, a vote may be held on the final proposals of labor and management.

At the meeting, Park Junsik, chairman of the Minimum Wage Commission, said, "I hope that the gap between labor and management can be narrowed as much as possible so that a resolution can be made through labor-management agreement," adding, "If agreement is difficult, it may inevitably be decided by a vote."

On the afternoon of the 18th, public interest commissioners attending the 14th plenary meeting held in the Minimum Wage Commission meeting room at the Government Complex Sejong in Sejong City are listening attentively to the remarks of the employer and worker commissioners.
[Photo by Yonhap News]

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