(EDITORIAL from Korea JoongAng Daily on June 24) (opens original article in a new tab)

Minimum wage negotiations in South Korea faced challenges as labor proposed a 16.3% increase, while business groups highlighted economic pressures and called for a balanced approach.

• Negotiations over next year's minimum wage began with labor proposing a 16.3% increase to 12,000 won per hour.
• A survey showed 57% of self-employed business owners reported worsened conditions, with 44.6% favoring freezing the minimum wage.
• Employer groups proposed differentiated minimum wages for specific sectors, but the proposal was rejected at the Minimum Wage Commission meeting.