Minimum Wages in South Korea increased to 9620 KRW/Hour in 2023 from 9160 KRW/Hour in 2022. source: Minimum Wage Council
Minimum Wages in South Korea averaged 3790.00 KRW/Hour from 1989 until 2023, reaching an all time high of 9620.00 KRW/Hour in 2023 and a record low of 600.00 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 June of 2023.
Minimum Wages in South Korea is expected to reach 9620.00 KRW/Hour by the end of 2023, 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 10100.00 KRW/Hour in 2024 and 105000.00 KRW/Hour in 2025, according to our econometric models.