President Moon Jae-in has said sorry to the South Korean public for not being able to keep his campaign pledge to raise the minimum wage to 10-thousand won.
That's about eight-and-a-half U.S. dollars, the level he'd said it would reach by 2020.
But talks between labor and management last week set next year's rate far lower.
Here's the President's chief of staff for policy on Sunday.
“He said that as president it is extremely regrettable that he was not able to keep a promise to the people. He then ordered detailed measures to be prepared on the government level.
President Moon said the Minimum Wage Commission made a difficult decision last week that took into account the country’s “economic conditions, employment situation and the receptiveness of the market.”
The Commission representing labor, business and market experts, voted to raise the minimum wage next year by 2.9 percent, far smaller than the almost-19-percent rise that would've been needed reach 10-thousand won.