The government says it will decide on a "reasonable" level for a minimum wage increase in 2020 after considering the degree to which the market can absorb its impact, the capacity of businesses to pay and the overall effect on the economy. 

The government made the decision on Monday during an extended meeting of heads of economy-related ministries at the presidential office.

The government said it will produce a bill in January to revise the minimum wage system and seek a parliamentary approval of the revision in February.  

It also agreed to consider extending the grace period for the 52-hour workweek system, which is set to expire at the end of the year with full enforcement of the system set to start from the new year.  

In addition, the government plans to produce this month additional measures to support small businesses and self-employed people who face increased financial burdens due to a hike in the minimum wage.