To Support a 3-Person Household in Seoul, Monthly Income of 2.39 Million Won Required... Seoul City Confirms Living Wage for Next Year

11,436 Won per Hour... 1,576 Won Higher than Minimum Wage
Applied to Workers at City Investment, Contribution, and Private Consignment Institutions

Seoul City announced on the 18th that it has finalized the living wage to be applied to next year's city policies at 11,436 KRW per hour. When converted to a monthly amount, this is approximately 2.39 million KRW.

The living wage, first introduced by Seoul City in 2015 as the first metropolitan local government to do so, refers to a wage level that allows workers and their families to maintain a life above the poverty level, ensuring housing, education, and cultural activities. The Seoul-type living wage is set considering the consumption level, housing costs, and inflation rate of a three-person household consisting of a dual-income couple and one child.

Seoul City Hall
Photo by Yonhap News

This year's living wage in Seoul is 11,057 KRW, and next year's living wage has increased by 279 KRW (2.5%) from this. This is 1,576 KRW higher than the 2024 minimum wage of 9,860 KRW announced by the government in August. Earlier, on the 13th, Seoul City decided on next year's living wage through deliberation by the Seoul City Living Wage Committee, composed of representatives from labor organizations and experts.

Accordingly, from January 1st next year, those subject to Seoul City's living wage will receive 2,390,124 KRW per month if they work the statutory labor hours of 209 hours (40 hours per week). The living wage applies to about 15,000 people, including directly employed workers of Seoul City and its investment and contribution institutions, workers of subsidiaries of Seoul City investment institutions, privately consigned workers (100% supported by city funds), and participants in New Deal jobs.

The living wage mainly applies to workers in the city and investment/contribution institutions and private consignment institutions where the civil servant pay system does not apply. It aims to stabilize living conditions and support practical living in areas such as education, culture, and housing, corresponding to the "public sector minimum wage."

Seoul City's living wage started at 6,687 KRW when introduced in 2015 and has been raised to 10,148 KRW in 2019, 10,523 KRW in 2020, 10,702 KRW in 2021, 10,766 KRW in 2022, and 11,157 KRW in 2023.

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