Minimum Wages in South Korea increased to 9160 KRW/Hour in 2022 from 8720 KRW/Hour in 2021. source: Minimum Wage Council

Minimum Wages in South Korea averaged 3618.53 KRW/Hour from 1989 until 2022, reaching an all time high of 9160 KRW/Hour in 2022 and a record low of 600 KRW/Hour in 1989. This page provides - South Korea Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Minimum Hourly Wages - values, historical data and charts - was last updated on November of 2022.

Minimum Wages in South Korea is expected to reach 9160.00 KRW/Hour by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Minimum Hourly Wages is projected to trend around 9500.00 KRW/Hour in 2023 and 9900.00 KRW/Hour in 2024, according to our econometric models.

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South Korea Minimum Hourly Wages

Related Last Previous Unit Reference
Minimum Wages 9160.00 8720.00 KRW/Hour Dec 2022

South Korea Minimum Hourly Wages
In South Korea, minimum wage refers to the lowest gross wage per hour, regardless employment status or nationality. There are some exceptions to this rule: businesses that only employ family members or relatives living in the same residence; domestic service users; seamen who are governed by the seamen act and the ship owners who employ those seamen.
Actual Previous Highest Lowest Dates Unit Frequency
9160.00 8720.00 9160.00 600.00 1989 - 2022 KRW/Hour Yearly