The Minimum Wage Commission grapples with scheduling and new members as they discuss the 2025 minimum wage.
Minimum Wage Commission Gears Up for 2025 Discussions Amidst Scheduling Challenges and New Members
Discussions on next year’s minimum wage are starting with the Minimum Wage Commission representing businesses, labor, and the public. Their first meeting is on Tuesday in Sejong.
The commission has 27 members, nine from each sector and they’ll choose a leader. Meeting the legal deadline of June 27 might be tough due to scheduling issues and new members. Last year, they missed the deadline and set the minimum wage on July 19, according to the report of KBS World.
(PHOTO: Economic Policy Institute)
Will it Cross 10,000 Won? Industry-Specific Rates on the Table
Last year, the minimum wage rose by two-point-five percent to nine-thousand-860 won per hour for 2024. It was the second-lowest increase in recent years. People are curious if the minimum wage will go over ten-thousand won per hour and if there will be different rates for different industries.
Furthermore, as discussions unfold attention is drawn to the significant implications of the Minimum Wage Commission’s decisions. With the potential to shape not only individual livelihoods but also broader economic dynamics and social equity, the outcomes of these deliberations carry weight beyond mere numerical adjustments.
