Next year's minimum wage has been set at nine-thousand-160 won per hour, up about five percent from this year. 

The Minimum Wage Commission, the rate-setting body of nine representatives each from labor, business and the general public, made the decision on Monday.

As labor and management failed to come up with unified proposals, representatives from the general public proposed the five-point-one-percent increase.

The proposal was passed by a vote of 13 to zero with one abstention. The vote was attended by five members from labor and nine members from the general public, while all nine representatives from businesses stormed out in protest.     

With the rise of 440 won from this year's minimum wage, a full-time minimum wage worker will earn a little more than one-point-nine million won per month next year. 

Under the Moon Jae-in administration, the minimum wage was raised by 16-point-four percent in 2018, ten-point-nine percent in 2019, two-point-nine percent in 2020 and one-point-five percent this year. 

The commission is required to present the new minimum wage to the labor minister, who then must announce it publicly by August 5. The new wage would then take effect on January 1 of next year.