The minimum hourly wage will be raised to 9,860 won ($7.80) next year, up from 9,620 won this year, the commission said. The figure was reached after 110 days of discussion, the most number of days it has ever taken reach an agreement.
It will be the smallest increase since 2021, when the wage was raised by a record low of 1.5% amid the COVID-19 pandemic.
($1 = 1,263.9500 won)
Source: Economy - investing.com
