The labor sector has proposed an hourly minimum wage of ten-thousand-890 won for next year, an 18-point-nine percent increase over this year's nine-thousand-160 won.

The labor representatives of the Minimum Wage Commission held a press conference on Tuesday ahead of the commission's plenary meeting later in the day and said they will present that figure as their initial request.

The officials said they came up with the figure after considering economic conditions at home and abroad, which they said demonstrate the necessity of the increase in order to prevent social polarization.

They said the poor and working classes are increasingly bearing the brunt of a worsening economy that faces the confluence of low growth and high inflation leading to stagflation.

The representatives stressed that the minimum wage hike must be larger than the average increase in overall wages in order to ease wage inequality.

The commission will determine next year's level by narrowing the gap between what is requested by labor and management.

The management side has yet to unveil its proposal but it is likely to request a continuation of this year's minimum wage.

The plenary meeting is also expected to discuss whether to launch a study on the application of differentiated wages by industry, although the commission has already ruled out the implementation of such a policy next year.