The government is poised to announce measures to overhaul a decision-making process on how much the minimum wage will be raised. 

According to government officials, the Ministry of Employment and Labor will present the new system as early as next week. 

Since revealing a draft plan in early January, the ministry has been collecting public and expert opinions on the overhauled system, which is characterized by a dual-stage process aimed at reducing social costs stemming from controversy surrounding the issue. 

Under the plan, the incumbent committee on minimum wage will be divided into two, one tasked with determining the range of possible hikes and the other on making a final decision. 

The range-setting committee will consist of nine experts recommended by labor, management and the government. The decision-making committee will be made up of representatives of workers and companies as well as common good advocates recommended by the government. 

The government will also take into account various factors affecting concerned parties such as the employment rate, economic growth and social security benefits linked with the minimum wage.