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Negotiation to Set 2024 Minimum Wage to Begin Tuesday

Written: 2023-05-02 14:37:18Updated: 2023-05-02 14:41:20

Negotiation to Set 2024 Minimum Wage to Begin Tuesday

Photo : YONHAP News

A plenary session of the Minimum Wage Commission is set to convene Tuesday afternoon to set the rate for next year.

The session, previously scheduled for April 18, was postponed after labor representatives on the commission called for the resignation of a panel member for the public sector, Sookmyung Women's University Professor Kwon Soon-won.

The labor representatives accused Kwon of pushing for a hasty review of the minimum wage last year as well as a regression of labor rights under the Yoon Suk Yeol administration.

While the controversy surrounding Kwon is expected to continue, speculation is growing over the possibility of the minimum wage surpassing ten-thousand won per hour this year for the first time.

The nation's two biggest umbrella unions, the Federation of Korean Trade Unions and the Korean Confederation of Trade Unions, have demanded a 24-point-seven-percent increase from this year's nine-thousand-620 won per hour to 12-thousand won per hour, citing high inflation.

The business sector, for their part, are expected to demand freezing the minimum wage at the current level.

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