The Presidential Office announced on the 11th that next year's minimum wage was set at 10,320 won, an increase of 290 won (2.9%) from this year, stating, "This is significant as it was decided through an agreement of labor, management, and public interest commissioners without a vote for the first time in 17 years since 2008."
The Presidential Office issued a statement that day, noting, "This decision was made by comprehensively considering objective statistics such as the inflation rate along with the conditions of vulnerable workers and small business owners." It added, "Since the first minimum wage decision of the Lee Jae-myung government was made through understanding and compromise between labor and management, the government will respect this as much as possible," and said that it would actively promote and oversee to ensure that the minimum wage is upheld in the workplace.
Previously, the Minimum Wage Commission held its 12th plenary meeting at the Government Sejong Center the day before and determined next year's minimum wage to be 10,320 won per hour. This is 1,180 won less than the initial labor demand (11,500 won) and 290 won more than the management position (10,030 won). During this process, the Korean Confederation of Trade Unions (KCTU) clashed and left after rejecting the proposal from public interest commissioners, but ultimately, it was confirmed by the consensus of 23 labor, management, and public interest commissioners without a vote.