The Ministry of Employment and Labor (MOEL) finalized next year's minimum wage at 10,700 won per hour and announced it on the 5th. It is an increase of 380 won (3.7%) from this year's 10,320 won.
Converted to a monthly salary, it is 2,236,300 won (based on 209 hours per month). It applies uniformly to all business sites regardless of industry. However, a separate minimum wage does not apply to contract-based workers such as special employment and platform workers.
Earlier, on the 16th of last month, the Labor Ministry tentatively announced next year's minimum wage as 10,700 won. In response, the Korean Confederation of Trade Unions filed an objection, saying the minimum wage should also apply to contract-based workers. The Korea Federation of Micro Enterprise (KFME) also objected, citing an excessive increase rate. It is the first time in four years, since 2022, that both labor and employer groups have filed objections at the same time.
However, the Labor Ministry decided not to accept these objections. A Labor Ministry official said, "The objections raised will not be accepted after comprehensively considering the intent and content of the Minimum Wage Act, as well as the review and resolution process."