South Korea: 2027 Minimum Wage Set at 10,700 Won/Hour

The Minimum Wage Commission decided the 2027 minimum wage at 10,700 won/hour ($7.20) at its 14th plenary session on 14 July 2026 – a 3.7% increase from 2026’s 10,320 won. Employer proposal won 17-11 vote. Monthly equivalent 2,236,300 won based on 209 hours. MOEL formal announcement due by 5 August 2026. Effective 1 January 2027.

Effective Date

• 1 January 2027

Published

• Minimum Wage Commission, 14 July 2026

Payroll action

• 2027 minimum wage: 10,700 KRW/hour (up from 10,320 KRW).
• Increase: 3.7% (380 KRW).
• Monthly equivalent: 2,236,300 KRW at 209 hours.
• Applies uniformly nationwide across all industries and worker categories.
• Formal MOEL announcement due by 5 August 2026 (within lookahead window).
• Effective 1 January 2027.
• Vote result: employer proposal 17 votes, labor 10,730 KRW proposal 11 votes.
• Probationary workers (1+ year contracts, non-simple-labor): may be paid below minimum for first 3 months.

Council Republic of Korea (MOEL)