Labor and management, minimum wage gap narrowed by 730 won…labor 11,250 won, management 10,520 won
Labor and management 7 month 9 day’s proposed revisions to next year’s hourly minimum wage narrowed the gap to 730 won. The revisions could affect the performance of industries with high labor-cost shares, such as convenience stores and restaurants, as well as consumer indicators, making them a focus of investor attention.
Labor and management 7 month 9 day narrowed the gap between their proposed revisions to next year’s hourly minimum wage to 730 won. From an investor perspective, this is important because consumption and companies’ labor-cost burdens could change.
During afternoon negotiations, 7th revision, labor representatives proposed an hourly wage of 11,350 won, while management proposed an hourly wage of 10,490 won.
In the subsequent 8th revision, labor representatives proposed an hourly wage of 11,250 won, while management proposed an hourly wage of 10,520 won.
The gap between the two amendments narrowed from 860won to 730won.
The figures released this time are merely the amendments proposed by the two sides. No final decision or official notification has yet been issued.
Negotiations continued several times on the same day, and the gap narrowed to its current level after the two sides repeatedly submitted adjustment proposals.
Industries with a high proportion of part-time and hourly workers, such as convenience stores, food service, and small-scale manufacturing, may review their cost structures based on the proposed amount.
The timing of the final official notification and the confirmed level must be confirmed through subsequent committee procedures and announcements.