2027 Minimum Wage Confirmed at KRW 10,700 per Hour — Check Before You Renew Your Contract

•    Korea's minimum wage for 2027 is set at KRW 10,700 per hour, up KRW 380 (3.7%) from this year's KRW 10,320.

•    Based on 209 working hours a month, the monthly minimum rises from KRW 2,156,880 to KRW 2,236,300.

•    The same rate applies to every workplace regardless of industry or size, and to foreign and Korean workers alike.

•    The new rate takes effect on January 1, 2027.

•    If you renew your contract at year-end, make sure the new amount is reflected in your employment contract and payslip.