S. Korea's 2021 minimum wage finalized at 8,720 won with smallest on-year increase
- 4 years ago
내년도 최저임금 8천720원으로 확정…내년 1월 효력 발생
South Korea's minimum hourly wage for 2021 has been finalized.
The Ministry of Employment and Labor said Wednesday that it will be eight-thousand-seven-hundred-20 won, which is about seven U.S. dollars 30 cents.
This is the figure the Minimum Wage Commission passed last month.
It represents just a one-and-a-half percent increase compared to this year's figure.
That's the smallest annual rise in South Korea's history.
The new wage takes effect on January 1st, 2021, and will be applied to all businesses.
South Korea's minimum hourly wage for 2021 has been finalized.
The Ministry of Employment and Labor said Wednesday that it will be eight-thousand-seven-hundred-20 won, which is about seven U.S. dollars 30 cents.
This is the figure the Minimum Wage Commission passed last month.
It represents just a one-and-a-half percent increase compared to this year's figure.
That's the smallest annual rise in South Korea's history.
The new wage takes effect on January 1st, 2021, and will be applied to all businesses.