Minimum Wage Set at W4,580 for Next Year

The minimum hourly wage has been set at W4,580 for next year, the Labor Ministry said in an official notice on Monday. The issue was reviewed by the Minimum Wage Council on July 13 and presented to various labor-management committees for approval.

The minimum wage adds up to a daily income of W36,640, or monthly earnings of W957,220, based on a 40-hour work week. This encompasses only basic regular pay, and does not include stipends, bonuses or welfare payments.

According to a study by the Minimum Wage Council, 13.7 percent of all salaried employees, or 2.34 million workers, will be affected by the increase.