Employer and worker representatives listen to a public interest member speak at the 12th plenary session of the Minimum Wage Commission at the Government Sejong Complex on Tuesday. [Yonhap]
Employer and worker representatives listen to a public interest member speak at the 12th plenary session of the Minimum Wage Commission at the Government Sejong Complex on Tuesday. [Yonhap]

Negotiations over next year's minimum wage are entering their final stretch.

Labor and management exchanged sixth-round revised proposals Tuesday, narrowing the gap in hourly rates to 990 won. Public interest members of the commission said they would respect the two sides' ability to reach an agreement on their own, urging further compromise.

The Minimum Wage Commission held its 12th plenary session at the Government Sejong Complex on Tuesday to deliberate on the minimum wage level to take effect in 2027.

Labor submitted a sixth revised proposal of 11,450 won per hour — 550 won below its initial demand of 12,000 won and 10.9 percent above this year's minimum wage of 10,320 won.

Management countered with 10,460 won per hour, raising its initial offer by 140 won — a 1.4 percent increase from this year's rate.

The gap between the two sides narrowed to 990 won from 1,060 won after the fifth round of revisions, a reduction of 70 won. At the start of Tuesday's session, the gap stood at 1,290 won based on the fourth-round proposals; the fifth and sixth rounds together trimmed it by 300 won.

Labor has maintained that a meaningful wage increase is necessary given rising prices and the financial burden on low-wage workers. Management has pushed back, arguing that weak economic conditions and the limited ability of small and medium-sized enterprises and self-employed operators to absorb higher costs call for keeping any increase to a minimum.

Public interest members said in their opening remarks that they would give labor and management as much room as possible to reach a voluntary agreement.

Minimum Wage Commission Chairman Kwon Soon-won called on both sides to keep narrowing the gap. "The public interest members plan to wait, and wait some more, until the very last moment for the two sides to close the distance," he said.

The statutory deliberation deadline has already passed, but a decision on next year's minimum wage must be reached by mid-July to allow the Ministry of Employment and Labor minister time to complete the official notification process. How much further the two sides can close the gap will be the defining question of this year's minimum wage negotiations.


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