Labor groups demand minimum wage of 12,000 won in 16.3 pct increase (opens original article in a new tab)

Labor unions in South Korea are pushing for a 16.3% increase in the minimum wage to 12,000 won next year, citing inflation concerns, while businesses may oppose the raise.

• Labor groups demand 16.3% increase in minimum wage to 12,000 won next year
• Current minimum wage is 10,320 won, up 2.9% from last year
• Business groups may propose freeze or smaller increase than labor demands