1st meeting to set 2024 minimum wage falls apart

The first negotiating session for next year's minimum wage fell through Tuesday, as public sector representatives stayed away from the meeting in protest of labor activists shouting slogans in the conference room.

The tripartite Minimum Wage Commission, which is composed of nine members each from labor, business and public sectors, was scheduled to meet for its first plenary meeting at 3 p.m. Tuesday to determine the minimum wage for 2024.

But public sector representatives, including Commission Chairman Park Joon-sik, refused to show up for the meeting, demanding that labor protesters calling for a sharp rise in the minimum wage first leave the meeting room.

As the chairman stayed away, labor representatives called off the meeting and left.

The commission is required by law to submit the minimum wage it set to the labor minister within 90 days of the minister's request. Labor Minister Lee Jeong-sik requested the commission's deliberation on March 31.

The labor minister, in turn, has to put up a public notice of the final minimum wage by Aug. 5.

The two biggest umbrella labor unions -- the Federation of Korean Trade Unions and the Korean Confederation of Trade Unions -- have demanded a 25 percent increase in the per-hour minimum wage to 12,000 won (US$9.1) from this year's 9,620 won, citing high inflation.

Business representatives are, however, largely expected to demand freezing the minimum wage at the current level.

The 2023 minimum wage of 9,620 won represents an increase of 5 percent from the previous year's 9,160 won.

Source: Yonhap News Agency

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