Despite the pandemic, South Korea has managed to approve an increase of minimum wage and this will greatly benefit factory workers in the country. From this year 8,720 won per hour, the new minimum wage for 2022 is 9,150 won or approximately $8 per hour, that’s a whopping 5.05% increase. That means, for a daily regular work of 8 hours, a worker can get 73,200 won per day or approximately $64.

The said increase is meant to assist workers who are affected by the COVID-19 pandemic. The government of South Korea will officially announce the new minimum wage for 2022 on August 5, 2021 and will take effect on January 1, 2022. Until the final announcement, business owners can still appeal. Originally, labor sectors demanded a $10,000 won per hour rate for 2022, but business representatives appealed to lower the demand because they too were affected by the COVID19 pandemic. Both sectors agreed to lower it to 9,150won instead.