South Korea Labor Seeks 8% Minimum-Wage Rise, Management Offers 2.2% for 2027

Labor and management representatives on South Korea's Minimum Wage Commission narrowed the gap between their proposals for the 2027 hourly minimum wage to 600 won on July 14. The labor side proposed 11,150 won per hour, an 8.0 percent increase from this year's 10,320 won. The management side proposed 10,550 won, a 2.2 percent increase from the same base.

The offers came in the tenth round of revisions at a meeting held at the government complex in Sejong. Labor had initially sought 12,000 won while management had called for no increase at all. The commission must finalize the 2027 rate by mid-July, after which the labor minister is required to announce the figure by August 5.

The two sides scheduled further marathon negotiations on July 14. If they fail to agree, public-interest representatives on the commission may mediate. The panel comprises representatives from labor, business and public-interest groups.

This year's minimum wage of 10,320 won marked a 2.