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South Korea Increases Minimum Wage for 2019

July 20, 2018, 9:02 PM

Effective for 2019, South Korea’s national hourly minimum wage is to be ₩8,350, up from ₩7,530, the Minimum Wage Commission said July 14 in a news release.

The hourly minimum wage increase for 2019 is an increase of 10.9 percent, the second-highest percentage increase in South Korea’s minimum wage during this decade.

The highest percentage increase since 2010 in the country’s hourly minimum wage, which was an increase of 16.4 percent, occurred when the 2018 hourly minimum wage of ₩7,530 replaced the 2017 amount of ₩6,470.