내년 최저임금 1만30원 최저임금 1만원 시대 열렸다
The minimum hourly wage in South Korea next year has surpassed the 10-thousand won threshold, for the first time.
But the actual size of the increase was the second smallest since the minimum wage was introduced.
Our Lee Soo-jin reports.
South Korea has now entered the era of the 10-thousand won minimum hourly wage.
The Minimum Wage Commission on Friday voted to set the minimum wage at 10-thousand-30 Korean won, or around 7 U.S. dollars and 30 cents at the current exchange rate.
For someone who works 40 hours a week, this brings the monthly minimum pay to around 2-point-zero-9 million won.
It is an increase of 1-point-7 percent from this year's minimum hourly wage of 9-thousand 860 won.
While this is the first time since the minimum wage was introduced in 1988 that it has entered the 10-thousand won range, the rise is actually the second smallest after the 1-point-5 percent increase in 2021.
The decision was made by the Minimum Wage Commission consisting of representatives from businesses, labor, and the general public in 53 days, almost half of the time that it took last year when negotiations took a record 110 days.
But the new wage plan was not agreed upon unanimously as in its final proposal the labor side suggested 10-thousand-1-hundred-20 won and the business side 10-thousand-30 won.
The proposal from the business side won with 14 votes to the labor side's nine.
As many as 3 million people are expected to be impacted by this decision next year, according to the Labor Ministry.
From the labor side, the Federation of Korean Trade Unions expressed its dissatisfaction over the decision, and the business side is also expected to express concern about the ability of small business owners to pay their employees the higher wages.
The new wage plan will be submitted by the Minimum Wage Commission to the Labor Ministry, which is expected to confirm it by August 5th.
While both sides are able to request a reevaluation by the commission to the Labor Ministry, such a request has never been approved before, making it highly likely that the commission's decision will go into effect from January 1 next year.
Lee Soo-jin, Arirang News.
#SouthKorea #economy #minimum_wage #new_wage_plan #최저임금 #경제 #Arirang_News #아리랑뉴스
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2024-07-12, 12:00 (KST)
