Song Chi-young, president of the Korea Small Business Association, asserted on the 26th that "the minimum wage for next year must be frozen without exception."
On this day, Song held a press conference in the main conference room of the Korea Small Business Association in Yeouido, Seoul, to announce the "2026 Minimum Wage Position for Small Business Owners," noting this. The conference was held ahead of the second minimum wage plenary session scheduled for the 27th.
Song emphasized, "We can no longer endure a minimum wage that has only increased without fail for 38 years," adding, "The minimum wage for next year should be frozen." He remarked, "Small business owners are facing an unprecedented crisis worse than during the IMF or COVID-19 and, to make matters worse, the ongoing trade war with the United States has created a dire situation where this year achieving a 1% growth rate in Gross Domestic Product (GDP) is difficult."
Song also advocated for a differentiated application of the minimum wage by industry and the abolition of the paid leave system. He stated, "In the case of differentiated application by industry, we discussed implementing it in three sectors, including the restaurant industry, last year, and it must be implemented this year."
On this day, the Korea Small Business Association released the results of a survey on the minimum wage increase targeting 1,000 small businesses. The average monthly sales for small business enterprises in 2024 are projected to be 8.54 million won, down about 30% from the previous year (12.31 million won). Operating profit is estimated to be 2.08 million won, a decline of about 25%. The association cited the rise in the minimum wage and materials and supplies costs as major causes.
Song also proposed a public discussion regarding minimum wage issues with the Federation of Korean Trade Unions and the Korean Confederation of Trade Unions. He stated, "We must inform others of the desperate reality of small business owners through rational discussions and maintain an appropriate minimum wage."