Suwon City Sets Next Year's Living Wage at 11,480 Won... 3,600 Workers at Investment Institutions to Benefit

Suwon City in Gyeonggi Province has decided to set next year's "living wage" at 11,480 won per hour, a 1.7% increase from this year. This is 109.4% of next year's minimum wage (10,320 won) announced by the Ministry of Employment and Labor.

The "living wage" refers to the wage level that allows workers to maintain a humane standard of living, exceeding the minimum wage. It applies to workers employed by Suwon City, its investment and funded institutions, those working at institutions or companies entrusted with tasks by the city, or providing construction or services to the city, as well as workers directly employed by their subcontractors. Suwon City expects that approximately 3,600 people will be subject to the living wage.

Suwon City Hall

Suwon City announced on the 1st that it had decided to raise next year's living wage to 11,480 won at the Labor-Management-Civil Administration Council meeting held on the 30th of last month. When converted based on a monthly working time of 209 hours, this amounts to 2,399,320 won per month.

The Suwon City Labor-Management-Civil Administration Council explained that it determined the living wage after considering the overall economic situation, including the consumer price inflation rate, minimum wage increase rate, average wage increase rate for workers, and Suwon City's financial conditions.

Meanwhile, on this day, the Suwon City Labor-Management-Civil Administration Council appointed Han Sangbae, Executive Director of the Suwon Industrial Complex Management Corporation, and Baek Seungjin, Chairman of the Gyeonggi-do Integrated Public Officials Union, as new council members.

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