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.

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South Korea Minimum Hourly Wages

Related Last Previous Unit Reference
Minimum Wages 9620.00 9160.00 KRW/Hour Dec 2023

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
9620.00 9160.00 9620.00 600.00 1989 - 2023 KRW/Hour Yearly