▲ 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)

(LEAD) minimum wage-negotiations

(LEAD) Labor, management narrow gap in minimum wage proposals to 730 won

(ATTN: UPDATES throughout with latest proposals; RECASTS headline, lead)

SEJONG, July 9 (Yonhap) -- Labor and management representatives narrowed the gap in their minimum wage proposals for next year to 730 won (US$0.48) on Thursday.

The labor side proposed 11,250 won for next year's hourly minimum wage, whereas the management side proposed 10,520 won in their eighth revisions during a meeting of the Minimum Wage Commission in the central administrative city of Sejong.

The figures translate to an increase of 9 percent and 1.9 percent, respectively, from this year's 10,320 won.

The labor side lowered its previous proposal by 100 won, while the management side raised its amount by 30 won.

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

It must finalize the new minimum wage by mid-July for a formal announcement by the labor minister by Aug. 5.

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