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[Graphic News] Negotiations start on next year’s minimum wage

By Korea Herald

Published : June 2, 2016 - 18:08

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The negotiations for next year’s minimum wage has begun with the Minimum Wage Council convening its plenary session on Thursday. The deadline for the review and decision is June 28. The minimum wage is an obligatory limit set by the government. Employers violating the minimum wage can face up to three years in prison or a fine of up to 20 million won ($16,800).

This year’s minimum wage has been set at 6,030, up 450 won from 5,580 won last year. The labor sector has been demanding the limit be raised to 10,000 won.

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