[The Hwankyung Ilbo] The Ministry of Employment and Labor announced the minimum wage applied in 2022 at 9,160 won per hour (the increase rate is 5.05% and the increase is 440 won).

If this is converted into a monthly salary, it will be 1,914,440 won for 40 hours of work per week (including paid weekly holidays, based on 209 hours per month), and the same minimum wage will be applied to all workplaces regardless of industry.

Next year's minimum wage level, monthly conversion of weapons, and whether to apply them separately by industry were reviewed and decided after seven meetings with stakeholders, four on-site visits, and nine plenary meetings at the Minimum Wage Committee.

The Ministry of Employment and Labor operated an objection period from July 19 to July 29 after announcing the minimum wage plan applied in 2022. During that period, there were no objections from the labor community (Korea Employers Federation, Federation of Small, and Medium Businesses), but did not accept the minimum wage law. 

The government plans to increase the minimum wage compliance rate through education, consulting, and labor management guidance on workplaces along with active promotion and guidance to settle the minimum wage next year.

"We respect the Minimum Wage Commission's decision in comprehensive consideration of internal and external economic conditions, employment conditions, and difficult conditions for low-wage workers and small businesses in complex situations such as economic recovery expectations and continued impact of coronavirus," said Minister Ahn Kyung-deok.

He also added, "The government will do its best to overcome the economic crisis caused by the coronavirus and provide an opportunity for an inclusive recovery beyond the conflict over the minimum wage level."