Korea’s minimum wage as per the Korean Minimum Wage Act in 2019 is determined by the Minister of Employment & Labor as KRW 8,350 per hour. The latest decisions of the Supreme Court developed a calculation standard/method for determining an hourly wage rate that is not in line with the opinion of the Ministry of Employment & Labor. In many such cases, a Ministry, simply, pushes to amend the law. This matter is important, since the standard hourly wage rate is a necessary mathematical component to calculate the monthly salary of employees. Korean Minimum Wage Act The Korean Minimum Wage Act’s main purpose is to provide a minimum sum per hour to employees that employers must, at least, pay to employees. The fear, in short, is that without a minimum wage, employers may be able to exploit vulnerable workers. The appropriate hourly minimum wage under the Korean Minimum Wage Act
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