Labor and management have proposed competing figures for next year's minimum wage, with labor suggesting 11,900 won and management proposing 10,360 won.
The gap has narrowed from 1,680 won to 1,540 won, but remains significant, prompting both sides to continue presenting revised proposals in an effort to close the divide.
According to Yonhap News on June 30, labor and management presented their second revised proposals during the 10th plenary meeting of the Minimum Wage Commission held at the Government Sejong Center.
Previously, labor had initially demanded a 16.3% increase to 12,000 won, while management sought to freeze the wage at 10,320 won, the same as this year.
On this day, labor proposed a first revised figure of 11,970 won, which was 30 won lower than their initial demand, while management suggested an increase to 10,340 won, up by 20 won.
The gap between the two sides was reduced from 1,680 won to 1,630 won, leading Chairman Kwon Soon-won of the Minimum Wage Commission to request an additional revised proposal, resulting in the second revision.
In the second revised proposal, labor suggested 11,900 won, down 70 won from the first revision, while management proposed 10,360 won, up 20 won.
Despite the narrowing gap of 1,540 won, the significant difference indicates that further revisions are likely as both sides strive to reach an agreement.
The minimum wage is determined annually by a committee of 27 members, including nine representatives each from labor, management, and the public interest sector.
After both sides present their initial demands, they engage in multiple rounds of revisions to narrow the gap.
If the gap remains unresolved after several meetings, public interest representatives will propose a range for deliberation, encouraging agreement or a vote within that range.
The legal deadline for minimum wage deliberations this year was June 29, which has already passed.
Considering the remaining administrative procedures, the Minimum Wage Commission is expected to submit the final minimum wage proposal to the Minister of Employment and Labor by mid-July.
As a result, it is anticipated that a final agreement will be reached by mid-July.
* This article has been translated by AI.
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