S. Korea's Minimum Wage Council to meet Monday aiming to finalize figure for 2021
Updated: 2020-07-13 08:41:11 KST
The de facto deadline for South Korea to decide next year's minimum wage is fast approaching, with labor and business still no closer to an agreement.
The Minimum Wage Council is holding its 8th meeting on Monday to draw up an agreement on the figure for 2021.
At an earlier 6th meeting, labor representatives demanded a 9.8-percent increase to 9,430-Korean-won, or some 7-dollars 80-cents, while business representatives proposed cutting the current figure by 1-percent down to 8,500-Korean-won, just above 7-dollars.
The two sides however could not narrow their differences.
The minimum wage for the following year is announced on August 5th every year, and to meet that deadline, a final figure has to be set by around July 15th.