SEOUL: South Korea has decided to raise the minimum wage by a three-year low of 2.5 per cent in 2024, its Minimum Wage Commission said on Wednesday (Jul 19), amid slowing growth and high inflation. The minimum hourly wage will be raised to 9,860 won (US$7.80) next year, up from 9,620 won this year, the com
Korea has set its minimum wage level for 2024 at 9,860 won ($7.80) per hour, up 2.5 percent from this year’s 9,620 won. The raise would translate to a monthly income of 2.06 million won, based on a 40-hour workweek. The decision was made early Wednesday following a 15-hour meeting of the Minimum Wage Commission, composed of members spanning labor, business and the general public. Though eyes were on whether the.
S Korea raises 2024 minimum wage by 2 5 pct bignewsnetwork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bignewsnetwork.com Daily Mail and Mail on Sunday newspapers.
S Korea raises 2024 minimum wage by 2 5 pct-Xinhua english.news.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from english.news.cn Daily Mail and Mail on Sunday newspapers.
The hourly minimum wage for next year was set at 9,860 won ($7.8), a 2.5 percent increase from this year, the Minimum Wage Commission said, Wednesday, after the conclusion of marathon talks. The new minimum wage translates into a monthly pay of nearly 2.07 million won, up from 2.02 million this year.