NEW MINIMUM WAGE RATE FOR 2011



Minimum Wage for 2011 is confirmed at 4, 320 won per hour.

The new minimum wage rate covers all businesses & workplaces except family business hiring only family members, housework employees and seamen.

Hourly Wage Rate - 4,320 won per hour.

Daily Wage Rate - 34,560 won per day (on an eight hour basis).

Monthly wage rate is 902,880 won per month for workers working 40 hrs per week (209 hrs per month), and 976, 320 won for workers working 44 hrs per week (226 hrs per month).

Effectivity Date is 01 January 2011.

Please refer to the related documents/announcement regarding the new rate: