The gap between labor and management regarding next year's minimum wage has narrowed to 690 won amid ongoing debates.
On July 9, the Minimum Wage Commission held its 13th plenary meeting at the Government Sejong Center to discuss the minimum wage for the upcoming year. During the meeting, both sides presented their ninth revision proposals after submitting the seventh and eighth revisions.
The labor sector proposed a minimum wage of 11,220 won, which is 780 won lower than their initial demand, while the management sector suggested 10,530 won, an increase of 210 won from their original request. Both figures represent increases of 8.7% and 2.0%, respectively, compared to this year's minimum wage. The gap in the ninth revision is 690 won, down 40 won from the previous eighth revision gap of 730 won.
As the two sides continued discussions to further narrow the gap, they concluded the meeting. If the pace of narrowing the gap slows, there is a high possibility that public interest representatives will propose a 'facilitation period' in the next meeting. This would involve setting upper and lower limits to encourage agreement or voting within that range.
Public interest representatives are emphasizing the importance of reaching a consensus. Sung Jae-min, deputy director of the Korea Labor Institute and secretary of the public interest representatives, stated, "The discussion on minimum wage illustrates the social dialogue process of harmonizing differing interests and values. I urge both labor and management to show a proactive attitude by taking a step closer to each other."
* This article has been translated by AI.
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