Minimum Wage in South Korea

South Korea's minimum wage runs about 9,860 won per hour in 2024, roughly 2.06 million won per month full-time.

Overview

The minimum wage commission, with worker, employer and public members, sets the rate yearly after famously loud negotiations. The large 2018 increase, over sixteen percent, was followed by more cautious steps after employer complaints about small-business strain. Coverage is broad in the service-heavy economy, and the nominal rate now exceeds Japan's, though hours worked in Korea remain among the world's longest. Figures are approximate 2024 values.