Minimum wages of domestic and foreign workers increased in South Korea

Minimum wages of all domestic and foreign workers including Nepalis have been hiked in South Korea.

A meeting of the minimum wages fixation committee held on Monday increased the wages by five per cent in the existing wages and set the minimum wage at 9,160 Korean Won per hour. The increased wages would be implemented from the next year 2022.

Earlier, the minimum wage was 8,720 Wons per hour. As per the new minimum wages, one can earn 1,901,444 Wons per month while working eight hours daily in five days a week. This is around 200,000 Nepali rupees.

The nine-member Committee on Monday mid-night took the decision to increase the minimum wages.

Those representing from workers side had demanded to increase minimum wages to 10,000 Wons from 8,720 Wons while those representing from entrepreneurs were on the stance not to increase the minimum wages, arguing that COVID-19 pandemic has affected the business.

Those representing from general people had suggested for middle way after representatives of workers and entrepreneurs failed to draw a conclusion.

The Minimum Wages Fixation Committee would recommend the Labor Ministry of Korea about the increased wages and the Labour Ministry would declare it on August 5.