The labor and management sectors maintain significantly divergent positions in their negotiations during Minimum Wage Commission (MWC) discussions for next year’s minimum wage in South Korea. The MWC is a consultative body consisting of members from the labor union, government and employers, designed to determine minimum wage and other labor issues. 

The labor sector, citing rising costs of living due to inflation, has adjusted its initial minimum wage proposal from $9.69 (12,210 won) to $8.43 (10,620 won). Conversely, management has increased its proposal from maintaining the $7.63 (9,620 won) minimum wage to raising it to $7.76 (9,785 won), referencing the difficult economic conditions faced by small and medium-sized enterprises (SMEs) and individual proprietors due to the global downturn and the aftermath of COVID-19.