Incheon City Sets Next Year's Living Wage at 11,400 KRW per Hour, Up 277 KRW from This Year

Incheon City announced on the 21st that it has set the living wage for next year at 11,400 KRW per hour.

This amount reflects a 2.5% increase in the minimum wage for next year and is 277 KRW higher than this year's living wage of 11,123 KRW. It is also 1,540 KRW more than the government-announced minimum wage of 9,860 KRW for next year.

The living wage is a wage set to practically guarantee workers' livelihoods by considering not only the minimum cost of living but also education and cultural expenses.

The living wage decided this time will be applied from January 1 of next year. The target includes 1,071 workers belonging to Incheon City, public corporations and foundations, investment and donation institutions, and city office consignment agencies.

Incheon City enacted the Living Wage Ordinance in November 2015 and has been deciding and announcing the living wage annually since the first application in 2017. The scope of application has also expanded from workers belonging to Incheon City to public corporations and foundations under the city and investment and donation institutions in 2019, and to workers belonging to city office consignment agencies since last year.

An official from Incheon City stated, "We determined the living wage by considering the city's financial situation, the wage system of institutions applying the living wage, wages of similar workers, household expenditures, and inflation," adding, "We hope the living wage will help reduce wage gaps among workers and contribute to stable living and improved quality of life."

Incheon City Hall

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