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Labor Lowers 2027 Minimum Wage Bid to 11,500 Won, Business Raises Offer to 10,440 Won
Labor representatives proposed 11,500 won per hour for 2027 while business offered 10,440 won during a July 7 session. The gap between the sides narrowed to 1,060 won from the prior week.
Jul 7, 3:46 AM·1m read2 sources
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Labor and business representatives on the Minimum Wage Commission proposed differing hourly minimum wages for 2027 during a plenary session on July 7. Labor representatives proposed 11,500 won, down 200 won from their prior offer. The business side proposed 10,440 won, up 30 won from its earlier bid.
This narrowed the gap between the sides to 1,060 won. The current 2026 minimum wage stands at 10,320 won per hour. Labor's proposal would raise it by 11.4 percent, while the business proposal would increase it by 1.2 percent.
The 2026 wage itself rose 2.9 percent from 2025. The commission, which includes representatives from labor, business and public interest groups, met at the government complex in Sejong. If the sides fail to agree, public interest members may mediate.
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