[South Korea] 5.1% minimum wage increase for 2022

As 2022 begins, South Korea’s employees are now guaranteed an hourly wage of at least 9,160 Korean won, or $7.71, Arirang reports.

This is the new minimum wage set for the country this year; the figure surpassing 9,000 Korean won for the very first time.

The minimum wage for 2022 has been increased by 440 won from 2021 - a climb of 5.1 per cent - according to South Korea’s Finance Ministry

The increase means the average minimum wage worker will now earn around $1,600 a month.

The minimum wage reportedly applies to all businesses and all employees including foreigners.

The new year brought changes to other labour laws.

Private firms with between 5 and 29 employees must now provide holiday pay for public holidays as well as substitute holidays.

Until 2021 private firms were not obliged to pay employees for these public holidays.

There will also be increased protection against discrimination and sexual assault in the workplace.

When a victim reports an incident to the labour relations board, an investigation will be held to determine compensation or potential punishment for the perpetrator.

Working parents will be paid more for parental leave. If one or both parents takes their parental leave within twelve months of their child's birth, both of them will be paid one hundred per cent of their monthly income, up to a maximum of around $2,500.

Until now only one parent has been entitled to 100 per cent of their monthly income, the other received only 80 per cent.

As 2022 begins, South Korea’s employees are now guaranteed an hourly wage of at least 9,160 Korean won, or $7.71, Arirang reports.

This is the new minimum wage set for the country this year; the figure surpassing 9,000 Korean won for the very first time.

The minimum wage for 2022 has been increased by 440 won from 2021 - a climb of 5.1 per cent - according to South Korea’s Finance Ministry

The increase means the average minimum wage worker will now earn around $1,600 a month.

The minimum wage reportedly applies to all businesses and all employees including foreigners.

The new year brought changes to other labour laws.

Private firms with between 5 and 29 employees must now provide holiday pay for public holidays as well as substitute holidays.

Until 2021 private firms were not obliged to pay employees for these public holidays.

There will also be increased protection against discrimination and sexual assault in the workplace.

When a victim reports an incident to the labour relations board, an investigation will be held to determine compensation or potential punishment for the perpetrator.

Working parents will be paid more for parental leave. If one or both parents takes their parental leave within twelve months of their child's birth, both of them will be paid one hundred per cent of their monthly income, up to a maximum of around $2,500.

Until now only one parent has been entitled to 100 per cent of their monthly income, the other received only 80 per cent.