Minimum wage10Amendment proposal, labor1thousand won1,150and business1thousand won submitted.550
On the day of the meeting, labor and management submitted next year's minimum wage amendment proposals at 14thousand won and 10thousand won, respectively. The gap between labor and management has narrowed to 1won, and negotiations are in the final tug-of-war phase. The decision may change until the final announcement.1,150 1 550 600
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Labor proposed an hourly minimum wage of 14thousand won in the amendment proposal for next year, while management proposed an hourly rate of 10thousand won. The submission of this amendment is a crucial issue, as it can directly affect small businesses and low-wage workers.1 1,150 1 550
The amendment proposal was submitted on 10. Both sides focused on narrowing the differences of a few hundred won instead of a single-digit range.14
Earlier, under the proposed amendment released on 9, labor presented 1thousand won while management proposed 1,250thousand won, resulting in a gap of 1won. Subsequently, as the proposals from both sides were adjusted, the gap was reduced to 520won on the date of submission. 730 14 600
During the negotiation process, labor representatives demanded a 'bold increase,' while management insisted that the wage increase rate should be kept at a level.2Both sides' claims were reportedly repeated at the negotiation table.
The current minimum wage proposal is under review by the Minimum Wage Commission and will be finalized after a decision by the committee and notification from the Ministry of Employment and Labor. The proposed plan may still change before the final notification.
Related agencies and industries anticipate additional discussions and follow-up announcements based on the figures presented in the revised proposal and the upcoming schedule of the committee.