SBS News

Minimum Wage for Next Year Set at 10,700 Won, Up 3.7% Overnight, a decision was reached to raise next year's minimum wage by 3.7%. The hourly rate will be 10,700 won, which translates to a monthly salary of 2,236,300 won. SBS Jul 15, 2026 6:21 AM

Rising Loan Rates Threaten to Snowball Interest Burden for 'Young-Geul' and 'Bit-Tu' Borrowers With the Bank of Korea's Monetary Policy Board expected to raise the base rate on July 16, concerns are mounting over the growing burden on so-called "Young-Geul" borrowers, who have exhausted all means to purchase homes. SBS Jul 15, 2026 6:14 AM

Minimum Wage for Next Year Set at 10,700 Won Per Hour, a 3.7% Increase The Minimum Wage Commission, consisting of representatives from labor, management, and public interest commissioners, reached this decision during its 14th plenary session held at the Government Complex Sejong on July 14. SBS Jul 15, 2026 5:45 AM

Government Projects 3% Economic Growth Driven by Semiconductors, Yet Employment and Inflation Remain Challenges The government projects that the Korean economy will grow by 3% this year, fueled by a semiconductor boom. SBS Jul 15, 2026 12:54 AM

Minimum Wage for Next Year Set at 10,700 Won Per Hour… 3.7% Increase The minimum wage for next year has been finalized at 10,700 won per hour. This is an increase of 380 won, or 3.7%, from this year's minimum wage of 10,320 won per hour. SBS Jul 15, 2026 12:44 AM