The 14th plenary session of the Minimum Wage Commission gets underway at Government Complex Sejong on Tuesday. Public interest members are widely expected to present a "deliberation promotion range" — an upper and lower bound — at the session. If labor and management reach agreement within that range, the figure is adopted; if they fail to close the gap, the minimum wage is decided by a vote. From left: Yang Ok-seok, head of human resources policy at the Korea Federation of SMEs; Ryu Gi-jeong, executive vice president of the Korea Enterprises Federation; Ryu Gi-seop, secretary-general of the Federation of Korean Trade Unions; and Lee Mi-seon, vice chairwoman of the Korean Confederation of Trade Unions. [Yonhap]
The 14th plenary session of the Minimum Wage Commission gets underway at Government Complex Sejong on Tuesday. Public interest members are widely expected to present a "deliberation promotion range" — an upper and lower bound — at the session. If labor and management reach agreement within that range, the figure is adopted; if they fail to close the gap, the minimum wage is decided by a vote. From left: Yang Ok-seok, head of human resources policy at the Korea Federation of SMEs; Ryu Gi-jeong, executive vice president of the Korea Enterprises Federation; Ryu Gi-seop, secretary-general of the Federation of Korean Trade Unions; and Lee Mi-seon, vice chairwoman of the Korean Confederation of Trade Unions. [Yonhap]

Labor and management each submitted their 10th revised proposals at the 14th plenary session of the Minimum Wage Commission on Tuesday, as last-ditch negotiations continued over next year's minimum wage.

The labor side proposed 11,150 won ($8) per hour, while the management side put forward 10,550 won. The gap between the two camps narrowed to 600 won, down 90 won from the 690-won difference in the previous ninth round of proposals.

Labor's proposal represents an 850-won reduction from its initial demand of 12,000 won, calling for an 8.0 percent increase over this year's minimum wage of 10,320 won. Management, which opened at 10,320 won, raised its offer by 230 won to 10,550 won — a 2.2 percent increase over the current rate.

At the 13th plenary session, labor had submitted 11,220 won and management 10,530 won as their ninth revised proposals, bringing the gap down to 690 won.

The two sides resumed the session at 4:30 p.m. Tuesday before submitting their 10th revised proposals in a bid to find common ground in the final stretch.

Public interest members are expected to review the 10th proposals and then present a deliberation promotion range. Labor and management are then likely to submit further revised proposals based on that range as negotiations enter their final phase.

With the session widely seen as the likely venue for a final vote on next year's minimum wage, whether public interest members present a deliberation promotion range — and whether labor and management make additional concessions — will be the decisive factor in reaching a final agreement.


fact0514@heraldcorp.com