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South Korea Commission Unanimously Backs 2.9% Rise in 2026 Minimum Wage

Endorsed by the presidential office, the plan enters a formal objection period before a final decision in early August

Members of the Minimum Wage Commission enter the 12th plenary session of the commission at the government complex in Sejong, central South Korea, on July 10, 2025. (Yonhap)
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President Lee Jae Myung speaks at a meeting with senior aides in Seoul on July 10, 2025. (Pool photo) (Yonhap)

Overview

  • The Minimum Wage Commission agreed to raise the hourly rate by 2.9 percent to 10,320 won, marking the first vote-free tripartite accord since 2008
  • Objective inflation data and assessments of small merchants and vulnerable workers shaped the modest increase
  • This is the first minimum wage determination under President Lee Jae Myung’s administration since he took office last month
  • The presidential office has pledged active promotion of the new wage and workplace inspections to ensure faithful implementation
  • The proposal has been submitted to the Ministry of Employment and Labor and will face a formal objection period ahead of an August 5 approval decision for a January 1, 2026 effective date