The 14th plenary meeting of the Minimum Wage Commission is under way at Government Complex Sejong, Tuesday. Yonhap
Labor and management representatives negotiating next year's legal hourly minimum wage narrowed the gap in their wage proposals to 200 won ($0.13) on Tuesday in a last-minute effort to reach a final agreement.
The labor side proposed 10,820 won for next year's hourly minimum wage, whereas the management side proposed 10,620 won in their 11th revised proposals during a meeting of the Minimum Wage Commission.
The figures translate to an increase of 4.8 percent and 2.9 percent, respectively, from this year's 10,320 won.
The labor side had initially proposed 12,000 won, while the management side had called for freezing the minimum wage.
