* Date : 2017-01-24
New Minimum Wage for 2017
Korea has increased its minimum wage for 2017 to US$ 5.50 an hour, a 7.3 percent rise from the previous year. Workers will now earn about US$ 1,148 dollars per month, if they work 40 hours a week. Trade unions are calling for a further rise in the minimum wage, while entrepreneurs fear it could place a heavy burden on small businesses. Find out how the minimum wage is determined.