![Ryu Ki-jung, executive vice president of the Korea Enterprises Federation and an employer representative on the Minimum Wage Commission, left, and Ryu Ki-seop, secretary-general of the Federation of Korean Trade Unions and a worker representative, take their seats at the 14th plenary session of the Minimum Wage Commission at Government Complex Sejong on Tuesday. [Yonhap]](https://wimg.heraldcorp.com/news/cms/2026/07/14/rcv.YNA.20260714.PYH2026071416350001300_P1.jpg)
Labor and business groups submitted their 11th revised minimum wage proposals Tuesday, with workers calling for 10,820 won ($7) per hour and employers offering 10,620 won, narrowing the gap between the two sides to 200 won.
The labor side lowered its bid by 330 won from its 10th proposal of 11,150 won, settling at 10,820 won — 1,180 won below its initial demand of 12,000 won and a 4.8 percent increase over this year's minimum wage of 10,320 won.
The business side raised its offer by 70 won from its 10th proposal of 10,550 won to 10,620 won — 300 won above its initial position of 10,320 won and 2.9 percent higher than this year's rate.
Public interest commissioners had earlier proposed a deliberation-facilitation range of 10,600 won (a 2.7 percent increase) to 10,860 won (a 5.25 percent increase). Both proposals fall within that range.
The two sides are expected to continue negotiations before submitting their final revised proposals. If no agreement is reached, the Minimum Wage Commission will put the matter to a vote to determine next year's rate.
The statutory deadline for this year's minimum wage deliberations was June 29, which has already passed.
Taking administrative procedures into account, the commission must submit its proposal to the minister of employment and labor by mid-July, and the minister must finalize and officially announce the minimum wage by Aug. 5. The new rate takes effect Jan. 1 next year.
fact0514@heraldcorp.com
