▲ Labor and business representatives of the Minimum Wage Commission attend a plenary session of the committee at the government complex in the central city of Sejong on July 9, 2026. (Yonhap)

minimum wage-negotiations

Labor, management narrow gap in minimum wage proposals to 860 won

SEJONG, July 9 (Yonhap) -- Labor and management representatives narrowed the gap in their minimum wage proposals for next year to 860 won (US$0.57) on Thursday.

The labor side proposed 11,350 won for next year's hourly minimum wage, whereas the management side proposed 10,490 won in their seventh revisions during a meeting of the Minimum Wage Commission in the central administrative city of Sejong.

The figures translate to an increase of 10 percent and 1.6 percent, respectively, from this year's 10,320 won.

The commission is made up of representatives from labor, business and public interest groups.

During the previous session on Tuesday, the gap was narrowed to 990 won.

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