South Korea's Minimum Wage Commission has set next year's minimum wage at eight,590 Korean won approximately 7 dollars 30 cents an hour.
That's two.nine percent higher than the current rate of 8,350 Korean won just over seven U.S. dollars.
It will be the smallest increase since 2010 and under the Moon administration.
The increase for 2018 was a whopping 16.4 percent and 10.9 percent this year.
The decision was made early Friday through a vote by commission, after a marathon 13 hour-long meeting.
The decision will be finalized by the Ministry of Employment and Labor on August 5th.