The Minimum Wage Commission will convene a plenary session on Tuesday to discuss next year's rate, with two days left until the legal deadline.

With the labor community demanding a 26-point-nine-percent increase from this year's rate to 12-thousand-210 won per hour, Federation of Korean Trade Unions(FKTU) President Kim Dong-myeong has staged a sit-in to call for the rate hike.

The business contingent, set to put forth their proposed rate on Tuesday, are most likely to call for a wage freeze, citing limitations to their payment capabilities.

The minimum wage jumped five percent this year to nine-thousand-620 won, or just over seven U.S. dollars, per hour, and it is expected to break the ten-thousand-won mark next year if raised by at least three-point-95 percent.

The commission is required to approve a new rate by Thursday to be submitted to the labor minister.