Labor, management far apart over minimum wage

Yonhap News Agency | Jul 1, 2020 at 4:23 AM
  • Labor unions on Wednesday demanded a 16.4 percent hike in the national minimum wage for next year, while employers called for a 2.1 percent cut, presaging a tough negotiation already complicated by the impact of the coronavirus pandemic.
  • This year’s minimum wage is 8,590 won (US$7.17) per hour, marking an increase of 2.9 percent on-year, far lower than the 10.9 percent in 2019 and the 16.4 percent in 2018.