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Minimum wage for next year rises by 2.9 pct

내년 최저임금 8590원…2.9% 인상

Minimum wage for next year rises by 2.9 pct

 

The Minimum Wage Commission decided Friday to raise the minimum wage by 2.9% to 8,590 won per hour for next year.

 

The Commission, consisting of labor and business representatives as well as experts, made the decision after holding intense negotiations.

 

The growth rate of the 2020 minimum wage slowed from this years 10.9% rise which was set at 8,350 won per hour. For last year, it rose 16.4% on-year to 7,530 won per hour, the steepest rise in 17 years.

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