The minimum wage for South Korean workers will reach 4,000 won ($3.8) an hour next year, up 6 percent from 2008, a wage council said Friday.
The Minimum Wage Council, which consists of government officials, unionized workers and management representatives, said its members concurred on the 6.1 rise after three-day talks.
The new minimum wage translates into 32,000 won a day and 836,000 won a month for those who work eight hours every weekday. The pay raise will benefit about 13 percent of employees or 2 million people who live on the minimum wage, the council said.
This year's talks were particularly tough as labor circles demanded a 26 percent increase to offset high consumer inflation, officials said. Management representatives resisted, citing much higher oil prices and lower-than-expected economic growth this year.