Representatives of labor and business have offered their second revised proposals on next year’s minimum wage, though the gap remains wide. 

During the ninth general meeting of the Minimum Wage Commission on Monday, labor representatives proposed next year’s minimum wage be set at 10-thousand-320 won, down by 120 won from their first revision. Management representatives put their figure at eight-thousand-810 won, up by 70 won, from their previous revision. 

Their latest offers are tantamount to an 18-point-three percent hike and a zero-point-eight percent increase, respectively, from this year’s minimum wage, eight-thousand-720 won. 

If the two sides fail to reach a consensus, the commission will likely attempt to convene a 10th general meeting early Tuesday to reach a conclusion.  

Under the Moon Jae-in administration, the minimum wage for 2018 jumped 16-point-four percent from the previous year and ten-point-nine percent for 2019. But the growth slowed to two-point-nine percent for 2020 and one-and-a-half percent for this year.