Small to medium-sized enterprises(SMEs) and small business owners in South Korea accepted a one-point-five-percent minimum wage hike set for next year, but called for supplementary measures to ease their burden.

Earlier on Tuesday, the Minimum Wage Commission set next year's minimum wage at eight-thousand-720 won, raising the legal threshold by the smallest-ever annual increase amid the fallout from the COVID-19 pandemic.

Expressing disappointment over the decision, the Korea Federation of Micro Enterprise said its virus-hit members had hoped for a wage cut after seeing the legal threshold rise by nearly 50 percent over the past three years.

The Federation urged the government to put forth steps to help the businesses cope with the hike as they face economic challenges.

The Korea Federation of SMEs, which had demanded at least a wage freeze, sought for the government to actively support its members and to expand funds to help them protect jobs for employees.