"Monthly Salary of 2,150,000 Won Era"... Next Year's Minimum Wage Set at 10,320 Won

[Financial News] The Ministry of Employment and Labor announced on the 5th that the minimum wage for 2026 has been confirmed and announced at 10,320 won per hour, as determined by the Minimum Wage Commission. This is an increase of 290 won (2.9%) from this year (10,030 won), and the monthly converted salary is expected to be 2,156,880 won (based on 209 hours per month, including 40 hours per week and weekly holiday hours).
The minimum wage confirmed and announced by the Ministry of Employment and Labor on this day applies equally to all workplaces without distinction of industry. The Ministry of Employment and Labor added that there were no objections raised during the objection period, which was operated for about 10 days from the 18th to the 28th of last month.
Kim Young-hoon, Minister of Employment and Labor, said, "We will strengthen guidance, supervision, and policy promotion to ensure that the determined minimum wage is well observed in the field, while seeking improvement measures to faithfully reflect the changing labor market and field conditions while maintaining the original purpose of the minimum wage system." 

jhyuk@fnnews.com Kim Jun-hyuk Reporter