Can Korea afford a 12,000 won minimum wage?

“South Korean labor and business groups clashed Tuesday as the state wage-setting panel opened talks on industry-specific pay floors, a contentious proposal backed by employers and fiercely opposed by unions. The talks came a day after labor groups proposed raising the 2027 minimum wage by 16.3 percent to 12,000 won ($7.93) an hour. The sixth plenary meeting of the Minimum Wage Commission in Sejong focused on differentiated rates, one of the most divisive issues in this year's negotiations. Labor

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