The ruling Democratic Party and the Employment and Labor Ministry will announce a new decision-making system regarding the minimum wage next week.
DP Representative Han Jeoung-ae, who leads the party at the parliament’s environment and labor committee, revealed the plan after a Wednesday meeting between the government and the party.
She said the government finished collecting opinions from experts, workers and businesses and will announce the results by the middle of next week or later.
Under a draft plan announced earlier, how much to raise the minimum wage will be determined through a dual-track process to help reduce social costs stemming from controversy surrounding the issue.
Various factors such as the employment rate, economic growth and social security benefits will also be considered in the decision-making process.