10,030 Won: South Korea’s 2025 Minimum Wage Set at Record High, $7.40 per Hour-Check It Out!

2025 Minimum Wage Surpasses 10,000 Won for the First Time

New Wage Rate Represents a 1.7% Increase from This Year’s Amount

According to KBS WORLD, South Korea‘s Ministry of Employment and Labor has set the minimum wage for 2025 at 10,030 won per hour which is about $7.40. This is the first time the minimum wage has exceeded 10,000 won. The new rate is a 1.7 percent increase from this year’s rate of 9,860 won which is an additional 170 won per hour. For someone working a typical 40-hour week this will result in a monthly wage of around 2.09 million won, or $1,580 based on working 209 hours a month.

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10,030 Won: South Korea’s 2025 Minimum Wage Set at Record High, $7.40 per Hour-Check It Out! (PHOTO: Korea JoongAng Daily)

New Minimum Wage Decision Marks First Uncontested Agreement in Four Years

This new minimum wage will be used across all industries following the same practice as before. The decision was made after the Minimum Wage Commission held eleven meetings last month to review the wage rate. The rate was finalized after both labor and management groups agreed on the amount during a ten-day review period with no objections.

This marks the first time in four years that there have been no objections to the minimum wage decision during the review period. This agreement between labor and management shows a rare consensus suggesting that wage negotiations might be more stable in the future.

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