In 2010, the national minimum wage in South Korea remained fixed at €557.2 per month, that is 6,686 euros per year, taking into account 12 payments per year.
If we look at the minimum salary in South Korean won, which is the official currency in South Korea, we can see that, this year, it was 928,860 South Korean won and accordingly, the national minimum wage has been raised 24,860 South Korean won per month from the previous year, 2.75%. This increase is less than the CPI of 2009 which was 2.8%,and so workers, despite the raise, have lost buying power in the last year.
If we look at the ranking of the national minimum wage that we publish, South Korea is in 18 nd place of the 96 of the list.
The National Minimum Wage (NMW) of a country is the minimum amount (lowest salary) per hour, per day, or per month that employers may legally pay to workers.
In the table that follows we show you the progression of the National Minimum Wage South Korea. You can see NMW in other countries in National Minimum Wage 2010 and see all the information about this country in South Korea economy.