Minimum wage in South Korea
History of the Minimum Wage in Korea
The South Korean government enacted the Minimum Wage Act on December 31, 1986, and implemented the Minimum Wage System beginning on January 1, 1988.

Minimum wage in South Korea

Section Title: History of the Minimum Wage in Korea
Table Section Text: The South Korean government enacted the Minimum Wage Act on December 31, 1986, and implemented the Minimum Wage System beginning on January 1, 1988.

Years	Hourly wage	Daily wage	Weekly wage	Monthly wage	Remarks

1988	(Group 1) \462.5 (Group 2) \487.5	(Group 1) \3700 (Group 2) \3900	(Group 1) \111000 (Group 2) \117000	Manufacturing (more than 10 employees)

1989	\600	\4800	\144000	Manufacturing, Mining, Construction (More than 10 regular workers)

1990	\690

1991	\820

1992	\925

1993	\1,005

1994.1~1994.8	\1,085

1994.9~1995.8	\1,170

1995.9~1996.8	\1,275

1996.9~1997.8	\1,400

1997.9~1998.8	\1,485	\11,880(8hrs)

1998.9~1999.8	\1,525	\12,200(8hrs)

1999.9~2000.8	\1,600	\12,800(8hrs)

2000.9~2001.8	\1,865	\14,920(8hrs)

2001.9~2002.8	\2,100	\16,800(8hrs)

2002.9~2003.8	\2,275	\18,200(8hrs)	All industries (all company)

2003.9~2004.8	\2,510	\20,080(8hrs)

2004.9~2005.8	\2,840	\22,720(8hrs)

2005.9~2006.12	\3,100	\24,800(8hrs)

2007	\3,480	\27,840(8hrs)	\727,320(40hrs a week) \786,480(44hrs a week)

2008	\3,770	\30,160(8hrs)	\150,800(40hrs a week) \165,880(44hrs a week)	\787,930(40hrs a week) \852,020(44hrs a week)

2009	\4,000	\32,000(8hrs)	\160,000(40hrs a week) \176,000(44hrs a week)	\836,000(40hrs a week) \904,000(44hrs a week)

2010	\4,110	\32,880(8hrs)	\164,400(40hrs a week) \180,840(44hrs a week)	\858,990(40hrs a week) \928,860(44hrs a week)

2011	\4,320	\34,560(8hrs)	\172,800(40hrs a week) \190,080(44hrs a week)	\902,880(40hrs a week) \976,320(44hrs a week)

2012	\4,580	\36,640(8hrs)	\183,200(40hrs a week) \201,520(44hrs a week)	\957,220(40hrs a week) \1,035,080(44hrs a week)

2013	\4,860	\38,880(8hrs)	\194,400(40hrs a week) \213,840(44hrs a week)	\1,015,740(40hrs a week) \1,098,360(44hrs a week)

2014	\5,210	\41,680(8hrs)	\208,400(40hrs a week) \229,240(44hrs a week)	\1,088,890(40hrs a week) \1,177,460(44hrs a week)

2015	\5,580	\44,640(8hrs)	\1,166,220(40hrs a week) \1,261,080(44hrs a week)

2016	\6,030	\48,240(8hrs)	\1,260,270(40hrs a week) \1,362,780(44hrs a week)

2017	\6,470	\51,760(8hrs)	\1,352,230(40hrs a week) \1,462,220(44hrs a week)

2018	\7,530	\60,240(8hrs)	\1,573,770(40hrs a week) \1,701,780(44hrs a week)

Sentence(s)

Minimum wage in South Korea was raised to 7,530 in 2018.

final_sentence: Minimum wage in South Korea was raised to 7,530 in 2018.