The debate over next year's minimum wage continues as the gap between labor and management has narrowed to 860 won.
On July 9, the Minimum Wage Commission held its 12th plenary meeting at the Government Sejong Center to discuss the minimum wage level for the upcoming year. Both sides presented a seventh revised proposal during the meeting.
The labor sector proposed a minimum wage of 11,350 won, which is a reduction of 650 won from their initial demand, while the management sector suggested a minimum wage of 10,490 won, an increase of 170 won from their original request. Both figures represent increases of 10.0% and 1.6%, respectively, compared to this year's minimum wage. The gap in the seventh revised proposal is 860 won, down 130 won from the previous sixth revised proposal gap of 990 won.
Both sides are continuing discussions in the plenary meeting to further narrow this gap. As the distance between the two parties decreases, there is a growing possibility that public interest representatives may suggest a 'facilitation range' if the pace of narrowing slows. 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. Seong Jae-min, Deputy Director of the Korea Labor Institute, stated, "The discussion on minimum wage is a social dialogue process that shows how to harmonize different interests and values. I urge both sides to demonstrate a proactive attitude by taking a step closer to each other."
* This article has been translated by AI.
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