South Korea Minimum Wages

Labour
South Korea
Source: South Korea Minimum Wages, released on Dec 31 by Minimum Wage Council
1.72%
Overview
Current Value
1.72%
Average Value (10 years)
6.13%
Statistical Analysis
Current Status
Abnormal
Historical Average
6.13%
Long-term mean
Historical Data
DateValueChange
12-31-20242.49%-2.53%
12-31-20235.02%-0.02%
12-31-20225.05%+3.53%
12-31-20211.51%-1.36%
12-31-20202.87%-8.02%
Forecast & Analysis

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Next Period Forecast
1.72%
3-Month Outlook
Moderate Growth
Based on economic models
12-Month Outlook
Stable
Long-term projection

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Key Information
Current Value1.72%
Average Value (10 years)6.13%

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Economic data last updated May 18, 2025