Minimum Wages in South Korea increased to 8720 KRW/Hour in 2021 from 8590 KRW/Hour in 2020. source: Minimum Wage Council
Minimum Wages in South Korea averaged 3450.61 KRW/Hour from 1989 until 2021, reaching an all time high of 8720 KRW/Hour in 2021 and a record low of 600 KRW/Hour in 1989. This page provides - South Korea Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Minimum Hourly Wages - values, historical data and charts - was last updated on May of 2021.
Minimum Wages in South Korea is expected to reach 8720.00 KRW/Hour by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Minimum Hourly Wages is projected to trend around 8990.00 KRW/Hour in 2022 and 9400.00 KRW/Hour in 2023, according to our econometric models.