Korea sets 2025 minimum wage at 10,030 won
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![The Minimum Wage Commission meets on Thursday. [YONHAP]](https://img1.daumcdn.net/thumb/R658x0.q70/?fname=https://t1.daumcdn.net/news/202407/12/koreajoongangdaily/20240712102322237mfld.jpg)
The minimum wage in 2025 will be 10,030 won ($7.30), marking the first time the compulsory hourly minimum wage has surpassed the 10,000 won level.
The Minimum Wage Commission set the figure during its 11th plenary meeting Friday. The hourly wage is up 170 won, or 1.7 percent, from this year’s 9,860 won. The increase rate is the second lowest on record.
The 2025 hourly wage translates to 2.1 million won per month, based on a 40-hour workweek.
The 2025 minimum wage marks the first time it has exceeded 10,000 won since the system was introduced in 1988.
BY CHO YONG-JUN,YONHAP [cho.yongjun1@joongang.co.kr]
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