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S. Korea's minimum wage for 2022 set at 9,160 Korean won; up 5.1% y/y Updated: 2022-01-03 17:17:26 KST


In the new year, an hour of labor in South Korea will guarantee an employee at least 9,1-hundred-60 Korean won, or some 7 dollars 71 cents.
That's the amount set as a minimum wage for the country this year, surpassing 9-thousand Korean won for the first time.
According to the Finance Ministry, the minimum wage for 2022 has been increased by 4-hundred-40 won from 2021, up 5.1 percent.
That means the average minimum wage worker would earn around 1,6-hundred dollars a month.
The minimum wage applies to all businesses and all employees including foreigners.

There were also changes to other labor laws in the new year.
Private firms with between 5 and 29 employees now have to provide paid holiday for public holidays as well as substitute holidays.
Until last year, private firms were not obliged to pay employees for these public holidays.

There will also be stronger protection against discrimination and sexual assault at the workplace.
Once a victim reports an incident to the labor relations board, an investigation will be held to determine compensation or any punishment for the perpetrator.

Working parents will be paid more for their parental leave.
If one or both parents takes their parental leave during the first 12 months of their child's birth, both of them will be paid one hundred percent of their monthly income, up to a maximum of around 2,5-hundred U.S. dollars.
So far, only one parent received 100 percent of their monthly income while the other received only 80 percent.
Kim Sung-min, Arirang News.
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