The minimum wage in South Korea increased by 10.9 percent to KRW 8,350 per hour in 2019 from KRW 7,530 per hour in 2018.
Minimum Wages in South Korea averaged 3114.84 KRW/Hour from 1989 until 2019, reaching an all time high of 8350 KRW/Hour in 2019 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. source: Minimum Wage Council
Minimum Wages in South Korea is expected to be 8350.00 KRW/Hour by the end of this quarter, 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 11500.00 KRW/Hour in 2020, according to our econometric models.