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South Korea Increases Minimum Wage for 2022

Aug. 31, 2021, 8:09 PM

Effective for 2022, South Korea’s national hourly minimum wage is to be 9,160 won (U.S. $7.91), up from 8,720 won (U.S. $7.53), the Minimum Wage Commission announced in a notice.

The hourly minimum wage for 2022 is an increase of 5.1%, the highest percentage increase in South Korea since 2019. Over 3.5 million workers will see their hourly wages rise in 2022 when the new minimum wage becomes effective on Jan. 1, according to the Minimum Wage Commission’s website.