The government has set next year's minimum wage at 8-thousand-five-hundred-and-ninety won, or seven-dollars-and-sixteen cents.<br />The labor ministry on Monday posted the hourly rate, which will apply across all workplaces from January first next year.<br />The wage hike is in line with the Minimum Wage Commission's decision in July to raise the hourly pay rate by two-point-nine percent,... the slowest gain since 2010.<br />While President Moon Jae-in had pledged to raise the hourly pay rate to ten-thousand won per hour by 2020,... there has been a strong backlash from businesses amid the country's economic slowdown and sluggish employment figures.<br />
