South Korea’s minimum wage is expected to exceed 10-thousand-200 won per hour next year.

At the 10th plenary meeting of the Minimum Wage Commission held at the Government Complex in Sejong on Wednesday, public interest representatives proposed setting the minimum wage between 10-thousand-210 won and 10-thousand-440 won in an effort to bridge the gap between labor and management.

The proposed range was presented as part of a “deliberation promotion section.”

The current minimum wage stands at 10-thousand-and-thirty won per hour.

Labor and management will now have to present their respective revisions, and based on those submissions, the commission will either seek a consensus or put the matter to a vote.

However, some watchers predict progress will remain slow, as labor representatives have argued that the proposed wage range was too low and signaled plans to protest related moves.

The commission must complete its review by mid-July, with the final minimum wage to be formally announced by the labor minister by August 5.