The deadlock over next year’s minimum wage has been broken as the panel in charge voted for a rate of nine-thousand-860 won per hour, up two-point-five percent from this year’s nine-thousand-620 won.

The Minimum Wage Commission, composed of nine representatives each from business, labor and the general public, decided on the new rate at around 6 a.m. Wednesday after marathon discussions overnight.

The commission determined the minimum wage level in a vote amid a protracted stalemate between the labor and business sides that was unable to be overcome with an agreement.

The final proposal from the labor side was a 2024 minimum wage of ten-thousand won per hour, while the business side suggested nine-thousand-860 won, which ultimately won with 17 votes to eight for labor’s rate, with one member abstaining.

The commission currently comprises 26 members as one of the representatives of the labor side was arrested and dismissed.