Labor sector demands 25 pct minimum wage increase to 12,000 won for 2024 SEOUL, April 4 (Yonhap) -- Labor representatives demanded Tuesday that next year's minimum wage be set at 12,000 won (US$9.12) per hour, a nearly 25 percent increase from this year's 9,620 won. The country's two biggest umbrella labor unions -- the Federation of Korean Trade Unions and the Korean Confederation of Trade Unions -- unveiled the demand in a press conference, saying high inflation and aggressive interest rate hikes in foreign countries warrant a higher minimum wage.

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