Labor groups demand minimum wage of 12,000 won in 16.3% increase

“Labor groups on Monday demanded a legal minimum wage of 12,000 won ($7.90) next year in what would be a 16.3 percent increase from this year's rate. The country's two umbrella labor unions -- the Federation of Korean Trade Unions and the Korean Confederation of Trade Unions -- disclosed their first minimum wage proposal during a press conference, saying the average increase of the past three years was less than the average inflation rate over the same period. The minimum wage is set each year by

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