Osan City Next Year's Living Wage 10,700 Won... 2.5% Increase Compared to This Year
Monthly Labor Standard: 2,236,300 KRW
Osan City in Gyeonggi Province announced on the 18th that it has set the living wage for next year at 10,700 KRW per hour.
The living wage refers to the wage set by local governments considering workers' housing, education, and cultural expenses comprehensively, allowing them to maintain dignity as human beings. It applies to fixed-term workers employed by the city and workers affiliated with investment and foundation institutions.
Osan City's living wage for next year is 260 KRW (2.5%) higher than this year's 10,440 KRW. It is 840 KRW (8.5%) higher than the government-mandated statutory minimum wage of 9,860 KRW for next year. When converted to a monthly salary based on 209 working hours per month, the living wage amounts to 2,236,300 KRW.
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An official from Osan City explained, "The increase in the living wage was determined by considering the city's financial conditions and economic circumstances due to inflation."
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