South Korea Labor, Management Narrow Minimum Wage Gap to 860 Won

Labor and management representatives on South Korea's Minimum Wage Commission narrowed the gap between their proposals for the 2027 hourly minimum wage to 860 won during a plenary session on July 9. The labor side proposed 11,350 won, a 10 percent increase from the current 10,320 won rate. The management side proposed 10,490 won, a 1.6 percent increase.

Labor lowered its prior offer by 100 won while management raised its figure by 30 won during the meeting at the government complex in Sejong. The commission, which includes representatives from labor, business and public interest groups, must finalize the 2027 minimum wage by mid-July. The labor minister is required to announce the rate by August 5.

During the previous session on Tuesday, the gap stood at 990 won.

The figures translate to an increase of 10 percent and 1.6 percent, respectively, from this year's 10,320 won. Labor and business representatives of the Minimum Wage Commission attend a plenary session of the committee at the government complex in the central city of Sejong on July 9, 2026.