Minimum Wage Proposals Narrow to 990 Won Gap: 11,450 Won vs. 10,460 Won

Labor and management representatives, currently negotiating the minimum wage for next year, presented their sixth revised proposals of 11,450 won and 10,460 won per hour, respectively, during the 12th plenary session of the Minimum Wage Commission held at the Government Complex Sejong today (July 7).

Compared to this year's minimum wage of 10,320 won, the labor side is demanding a 10.9% increase, while the management side is seeking a 1.4% increase.

Earlier in today's session, the labor side had submitted a fifth revised proposal of 11,500 won, and the management side had proposed 10,440 won.

Compared to those figures, the labor side lowered its proposal by 50 won in the sixth revision, while the management side raised its offer by 20 won.

The gap between the two sides has narrowed from 1,060 won to 990 won.

While the difference between the two sides, which stood at 1,680 won at the time of the initial proposals (12,000 won from labor and 10,320 won from management), has now closed to within 1,000 won, an agreement was not reached today.

The Minimum Wage Commission, composed of representatives from labor, management, and public interest commissioners, plans to hold the 13th plenary session on July 9 to continue deliberations aimed at further narrowing the gap.

If labor and management fail to significantly narrow their differences, the public interest commissioners may propose a range of upper and lower limits, known as the deliberation promotion range, to encourage an agreement or a vote within those bounds.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.