Minimum wage ‘13,000 won’, labor and management did not raise objections… likely to be finalized on the 5th of next month

2024-07-31 01:18:55

There were no objections filed by the 29th deadline.
It has been four years since 2020 that no objection has been raised.

ⓒNewsis

With neither labor nor management raising objections to next year’s minimum wage, it appears that the minimum wage applicable in 2025 will be set at 13,000 won.

According to the Ministry of Employment and Labor on the 30th, neither labor nor management submitted any objections by the deadline for filing objections on the 29th.

It is the first time in four years since 2020 that no objections have been raised to the minimum wage plan.

On the 12th, the Minimum Wage Commission (MWC) decided on the minimum wage for next year at 10,030 won. This is 170 won (1.7%) higher than the current hourly wage of 9,860 won, which is equivalent to 2,096,270 won in monthly terms (based on 209 working hours per month). The Ministry of Employment and Labor then announced the plan on the 17th.

According to Article 9 of the Minimum Wage Act, if a “person representing workers” or a “person representing employers” has an objection to the minimum wage plan announced by the Ministry of Employment and Labor, he or she may file an objection with the Minister of Employment and Labor within 10 days (excluding weekends) from the date of announcement.

This means that the objection should have been submitted by the 29th.

If the Minister of Employment and Labor determines that it is difficult to determine the minimum wage according to the minimum wage plan or if there is a valid reason for the objection raised, he/she may request the Minimum Wage Commission to reexamine the matter within 20 days.

However, there has not been a single re-examination since the implementation of the minimum wage system in 1988.

Ultimately, no objections were raised, and Minister of Employment and Labor Lee Jeong-sik is expected to make a final decision on next year’s minimum wage by the 5th of next month. According to the Minimum Wage Act, the Minister of Employment and Labor must decide on the minimum wage by August 5th of each year.

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2024-07-31 01:18:55