2027 Minimum Wage in Korea: Hourly and Monthly Rates
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2027 Minimum Wage in Korea: Hourly and Monthly Rates
“How much will the minimum wage be in Korea in 2027?”
If you are a foreigner working in Korea, it is important to know the minimum wage that will apply from January 2027.
The 2027 Korean minimum wage has been officially set at 10,700 KRW per hour.
What Is the 2027 Minimum Wage?
Starting January 1, 2027, Korea's minimum wage will be:
Hourly: KRW 10,700
Daily: KRW 85,600 (8 hours)
Monthly: KRW 2,236,300
The monthly amount is calculated based on 209 hours per month, including paid weekly holiday hours, for a standard 40-hour workweek.
How Much Has It Increased?
The 2027 hourly minimum wage is KRW 380 higher than in 2026, representing a 3.7% increase.
Year | Hourly Minimum Wage | Monthly Amount* |
2026 | KRW 10,320 | KRW 2,156,880 |
2027 | KRW 10,700 | KRW 2,236,300 |
*Monthly amounts are based on 209 hours.
Does the Minimum Wage Apply to Foreign Workers?
Yes. The minimum wage system applies regardless of nationality.
The 2027 minimum wage is also applied without different rates by type of business, meaning the same statutory minimum applies across workplaces subject to the minimum wage law.
However, whether a particular employee's pay meets the minimum wage requirement can depend on factors such as the employee's working hours and which wage components are included when calculating the minimum wage.
When Does the New Rate Start?
The new minimum wage applies from January 1, 2027 through December 31, 2027.
If you are working in Korea, checking your employment contract and payslip before the new year can help you understand how the new minimum wage may affect your pay.
Working in Korea?
If you are a foreign employee and are unsure whether your salary meets Korea's minimum wage requirements, consulting a qualified labor or tax professional can help you understand how the rules apply to your specific employment situation.
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