Labor and management negotiating next year's minimum wage offered their 11th revised proposals at 10,820 won and 10,620 won per hour, respectively.
Labor and management presented the revised proposals at the 14th plenary meeting of the Minimum Wage Commission held at the government complex in Sejong on Jul. 14.
Labor's demand is 4.8% higher than this year's minimum wage of 10,320 won. Management's demand is a 2.9% increase from this year.
Labor and management have offered revised proposals 10 times from last month through the day, but the gap between the two sides did not narrow beyond 600 won. In response, public-interest members proposed a "deliberation facilitation range" of 10,600–10,860 won per hour.
The deliberation facilitation range is the minimum wage review band presented by public-interest members, considering both sides' proposals and economic indicators, when a labor-management agreement is difficult. Within this range, labor and management must submit additional revisions and set the final amount through agreement or a vote.
Accordingly, labor and management again submitted their 11th revisions within the facilitation range. The gap between the two sides' demands has now narrowed to 200 won.
Under the Minimum Wage Act, the Minister of the Ministry of Employment and Labor (MOEL) must announce next year's minimum wage by Aug. 5.