By Bae Ji-sook
Staff Reporter
The minimum wage has been set at 4,000 won per hour, up 6.1 percent from last year.
It means the monthly minimum wage is now 836,000 won for the lowest earners working eight hours per day, five days a week, the Minimum Wage Council, consisting of government officials, union leaders and businessmen, said Friday.
The new wage will be effective from Jan. 1 next year. The agreement was made after a three-day negotiation.
Unions initially called for a 26.3 percent raise.