Minimum wage 7amendment proposal 11,350 won vs. 10,490 won unveiled
Labor and management 7with an amendment proposal 9 days each, at hourly rates of 11,350 won and 10,490 won, respectively. On the same day, China announced that consumer prices rose 6% month-on-month and producer prices rose 1.0%. The two issues could affect domestic companies' labor costs and export and raw-material costs.4.1The two issues could affect domestic companies' labor costs and export and raw-material costs.
![Minimum wage 7amendment proposal 11,350 won vs. 10,490(/blog-images/gen-9fcdc714-230a-4c7d-96e0-6e3623527f66.jpg)
Labor and management 7with an amendment proposal 9 days each, at hourly rates of 11,350 won and 10,490 won, respectively. This discussion is part of the negotiation process to determine next year's minimum wage level.
The two sides sat down again that day and continued their final coordination. The gap between their positions had not narrowed during the negotiation process.
Labor representatives expressed the view emphasizing 'a low-rate increase over 3 years,' while management raised 'limits to payment capacity' as an issue. The positions of both sides were confirmed in negotiation documents and meetings.
The negotiations are reported to have additional discussions remaining before a final agreement. The revised proposal presented is the latest proposal released that day.
On the same day, China's National Bureau of Statistics 2026 year 6 month's consumer price index (CPI) rose 1.0%, while the producer price index (PPI) rose 4.1%. The two figures were released in data published that day.
The revised minimum wage proposal and China's inflation figures are statistics directly linked to labor costs, export costs, and raw material prices, respectively. It is necessary to examine changes in the cost structures and profitability of the related industries.