The debate over next year's minimum wage continues as the gap between labor and management has narrowed to 990 won.
On July 7, the Minimum Wage Commission held its 11th plenary meeting at the Government Sejong Center to discuss the minimum wage level. During the meeting, both sides presented a sixth revised proposal following the fifth.
The labor side proposed a minimum wage of 11,450 won, which is a reduction of 550 won from their initial demand, while the management side suggested 10,460 won, an increase of 140 won from their original request.
Earlier, in the fifth revised proposal, both sides had suggested minimum wages of 11,450 won and 10,460 won, respectively. The gap in the sixth revised proposal is 990 won, down 70 won from the 1,060 won gap in the fifth proposal.
Although the gap has decreased, progress remains slow, raising the possibility that public interest committee members may propose a 'facilitation range.' If both sides fail to significantly narrow their differences, the public interest committee may set upper and lower limits.
Seong Jae-min, deputy director of the Korea Labor Institute and secretary of the public interest committee, stated, "Both sides have likely shared their positions and reasoning sufficiently. It is important to consider the significance of each standard in the current economic and labor market situation. It is now time to translate the discussions into concrete figures."
* This article has been translated by AI.
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