Labor and management, which met to decide next year's minimum wage, presented their "first revised minimum wage demand" at 11,970 won per hour and 10,340 won per hour, respectively. From their initial proposals, labor lowered its demand by 30 won and management raised its offer by 20 won. The gap between the two sides is 1,630 won.
The Minimum Wage Commission held its 10th plenary meeting on the 30th at the Government Sejong Complex and announced this first revised proposal. The government convenes the Minimum Wage Commission every year to decide the minimum wage for the following year. A total of 27 members attend the commission: 9 employee Commissioners, 9 employer Commissioners, and 9 public interest Commissioners.
At the plenary meeting held on the 23rd, labor had called for 12,000 won per hour, while management argued for a freeze (10,320 won). With the plenary meeting that day, the two sides narrowed the gap from 1,680 won to 1,630 won, and the commission plans to convene additional plenary sessions to narrow it further.
Based on the commission's deliberations, the Minister of the Ministry of Employment and Labor (MOEL) finalizes and announces next year's minimum wage by Aug. 5 each year.