The Ministry of Employment and Labor (MOEL) has published an official announcement that the minimum hourly wage will increase from KRW 8,720 to KRW 9,160 effective from January 1, 2022 (the monthly minimum wage will be KRW 1,914,440 with the 209 work hours under the labor laws of Korea). The requirement shall be applied equally to across all industries.
2021 |
2022 |
% increase |
|
Minimum hourly wage |
KRW 8,720 |
KRW 9,160 |
5.05% |
Minimum monthly wage |
KRW 1,822,480 |
KRW 1,914,440 |