July 13, 2021 | Investopaper
The minimum wage of all domestic and foreign workers, including Nepalis, in South Korea, has increased. The current salary has risen by five percent to 9,160 Korean won per hour. This will be implemented from 2022.
The current hourly wage has increased by 440 won from the previous 8,720 Korean Won. Accordingly, if you work forty hours a week, the monthly income will be 19,14,440 won. This amount is almost equal to Nepali two lakhs.
In the meeting of the Minimum Wage Determination Committee held on Monday, those representing the workers had demanded 10,000 won from the current 8,720 won, while those representing the entrepreneurs had demanded 8,720. As no conclusion could be reached between the workers’ representatives and the employer’s representatives, a middle way was suggested and an agreement was reached to increase 440 won per hour.