Labor, management narrow gap in minimum wage proposals to 200 won

Labor and management representatives negotiating next year's legal hourly minimum wage narrowed the gap in their wage proposals to 200 won ($0.13) on Tuesday in a last-minute effort to reach a final agreement. The labor side proposed 10,820 won for next year's hourly minimum wage, whereas the management side proposed 10,620 won in their 11th revised proposals during a meeting of the Minimum Wage Commission. The figures translate to an increase of 4.8 percent and 2.9 percent, respectively, from t