Labor reps call for raising minimum wage by 23.9 pct to 10,800 won
SEOUL, June 24 (Yonhap) -- Labor representatives on Thursday called for raising the hourly minimum wage by 23.9 percent to 10,800 won (US$9.53) next year.
The Minimum Wage Commission, a trilateral panel composed of nine representatives each from labor, management and the general public, holds plenary sessions around this time each year to negotiate the following year's minimum wage.
"The COVID-19 pandemic is exacerbating economic inequality and polarization," one of the labor representatives said in a press conference in Sejong shortly before the commission was set to hold its fifth plenary meeting this year.
"To resolve these issues, the minimum wage must be raised drastically and lead to an increase in incomes and consumption," he said.
The management side has yet to announce its offer, but it is expected to propose a freeze at this year's level of 8,720 won, which represents the smallest-ever annual increase of 1.5 percent.
A minimum wage of 10,800 won next year would translate to a monthly wage of 2.26 million won.
Thursday's plenary session was expected to discuss differentiating the minimum wage across industries, a method that was used in 1988 when the minimum wage system was first introduced but has never been applied since.
The management side has called for setting lower rates in industries that struggle to pay wages, such as the hotel and restaurant sectors, but the labor side views it as defeating the purpose of the minimum wage system.
Aug. 5 is the legal deadline by which the Ministry of Employment and Labor must notify the public of the new rate.
hague@yna.co.kr
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