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Korea's 2027 minimum wage set at 10,700 won per hour, effective 1 January 2027

ScheduledTakes effect: 2027-01-01
EveryoneWorkersEmployersForeign residentsNew citizens & PR holders

On 5 August 2026 the Ministry of Employment and Labor formally announced the 2027 minimum wage: 10,700 won per hour, up 380 won (3.7%) from 2026's 10,320 won. The published monthly equivalent is 2,236,300 won based on a 40-hour week. It applies to every workplace from 1 January 2027, with no industry exceptions.

What changes

The hourly floor rises from 10,320 won to 10,700 won, a 3.7% increase. For an eight-hour day, the minimum daily pay goes from 82,560 won to 85,600 won.

The officially published monthly figure is 2,236,300 won. That number assumes 209 hours a month, which is a 40-hour week plus the paid weekly rest hours Korean law adds on top. The equivalent 2026 figure was 2,156,880 won, so the monthly floor rises by 79,420 won.

The notice sets a single rate for all industries. A convenience store, a factory and a café are all bound by the same number, and there is no separate lower rate for piece-rate workers such as delivery riders. The ministry published the draft on 16 July 2026, accepted objections until 27 July, and rejected them, so the figure is final.

Who this applies to

  • Every worker at any business that employs at least one person under the Labor Standards Act. Workplaces with fewer than five employees are not exempt.
  • Nationality and visa status make no difference. The Minimum Wage Act contains no nationality-based exemption, and Article 6 of the Labor Standards Act prohibits discrimination in working conditions on grounds of nationality. Foreign nationals working on E-9, H-2, F-2, F-5, F-6 and other work-eligible statuses are entitled to exactly the same rate as Korean nationals.
  • Full-time, fixed-term, part-time and casual workers alike. Working only five hours a week does not lower your hourly entitlement.
  • Employers need to rebuild their 2027 payroll budget. Small businesses paying near the floor will also see their employer-side social insurance contributions rise along with wages.

What to do now

  1. 1Work out your current hourly rate. If it is below 10,700 won it becomes unlawful on 1 January 2027, so ask for the pay clause in your employment contract to be rewritten before December ends.
  2. 2If you are paid monthly, divide your monthly pay by your contracted monthly hours and check the result against 10,700 won. Meal and transport allowances and monthly-paid bonuses now count in full toward the minimum wage, so looking only at base pay gives the wrong answer.
  3. 3Employers should run a below-minimum list before closing December 2026 payroll, adjust the wage table, and prepare amended contracts reflecting the new rate.
  4. 4If you are paid less than the minimum, file a complaint with the Ministry of Employment and Labor counselling centre (dial 1350) or your local labor office. Counselling is available in several foreign languages.

Commonly misunderstood

  • Through 31 December 2026 the applicable rate is still 10,320 won. The August 2026 announcement does not take effect immediately.
  • Compliance is judged on the hourly rate, not the monthly total. Earning more than 2.23 million won a month can still be a violation if you work well beyond 209 hours.
  • Weekly holiday allowance is not a separate top-up on the 2,236,300 won figure. Those paid rest hours are already baked into the 209-hour conversion.

Official sources

The links below are official government publications. This page summarises them; always check the original before filing or applying.

Verified on: 2026-08-24

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Min Wage → MonthlySalary Take-HomeUnemployment Benefit

Related policy updates

This page explains a policy change and is not legal advice. Confirm how it applies to your situation with the responsible agency.

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Korea's 2027 minimum wage set at 10,700 won per hour, effective 1 January 2027