Yangcheon-gu to Raise Next Year's Living Wage to 11,436 Won, a 2.5% Increase from This Year

2.5% Increase from 11,157 Won This Year, Monthly Salary to Reach 2,391,240 Won... Legal Minimum Wage at 9,860 Won, 115.9% Level... Comprehensive Consideration of Inflation Rate, Previous Financial Conditions, and Seoul City Living Wage

Yangcheon-gu (District Mayor Lee Gi-jae) announced that it has finalized the living wage for next year at 11,436 KRW per hour, taking into account factors such as inflation rate and the district's financial conditions.

This is a 2.5% (279 KRW) increase from this year's living wage of 11,157 KRW, which translates to a monthly salary of 2,390,124 KRW, and is 115.9% of next year's minimum wage of 9,860 KRW announced by the Ministry of Employment and Labor in August.

The increased living wage will apply to approximately 400 directly employed workers (100% funded by the district) at the district office and its invested and funded institutions, effective for one year starting January 1 of next year.

The living wage system is designed to pay an amount above the statutory minimum wage by comprehensively considering prices, housing costs, and other factors so that workers can maintain a minimum level of dignity as human beings in areas such as education and culture. The district enacted the "Seoul Special City Yangcheon-gu Living Wage Ordinance" in 2015 and has been implementing the living wage system since 2016.

Lee Gi-jae, Mayor of Yangcheon-gu, said, "I hope this living wage decision will help ensure the livelihood stability and improve the quality of life of our district workers, even if only a little."

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