The government has set next year's minimum wage at 8-thousand-five-hundred-and-ninety won, or seven-dollars-and-sixteen cents.
The labor ministry on Monday posted the hourly rate, which will apply across all workplaces from January first next year.
The wage hike is in line with the Minimum Wage Commission's decision in July to raise the hourly pay rate by two-point-nine percent,... the slowest gain since 2010.
While President Moon Jae-in had pledged to raise the hourly pay rate to ten-thousand won per hour by 2020,... there has been a strong backlash from businesses amid the country's economic slowdown and sluggish employment figures.