Minimum Wage 2010
The minimum wage for 2010 has been set at W4,100/hour, which is an increase of 2.75% over the 2009 rate. Based on a 40-hour workweek that translates into a gross monthly salary of W858,900.
The increase (2.75%) is the lowest in the last decade. The negotiation for 2010 apparently started with labor requesting a 28.7% hike to W5,150/hour and employers wanting to reduce the hourly rate to W3,770 (5.8% decrease).
The Minimum Wage Council, which sets the rate, is composed of government officials along with representatives of unionzed workers and employers (management).
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| In the same header |
| -Disputes with Employers | -Irregular-Part-time Workers |
| -Minimum Wage 2010 | -Overview of Korean Labor Law |
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