Saturday, 30th September 2023

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“A three-person household needs to have at least this much money to live in Seoul.” Seoul city sets monthly living wage of 2.39 million won for next year

11,436 won per hour, a 2.5% increase from this year

. Based on 40 hours a week, you can earn 2.39 million won per month

. ‘How much is the minimum you need to live in Seoul for a month?’카지노

The city of Seoul announced on the 18th that it has confirmed the ‘living wage’ to be applied to next year’s city policy at 11,436 won per hour. This is a 2.5% (279 won) increase from this year’s 11,057 won. It is 1,576 won more than the 2024 minimum wage of 9,860 won announced by the government in August. The living wage, which Seoul City introduced for the first time among metropolitan local governments in 2015, refers to a wage level that allows workers and their families to live above the poverty level while being guaranteed housing, education, and cultural life. The Seoul-style living wage is set by considering the consumption level, housing costs, and inflation rate of a three-person household consisting of two dual-income couples and one child.

Accordingly, from January 1 next year, those eligible for the living wage in Seoul can earn 2,390,124 won if they work the legal working hours of 209 hours (40 hours per week) per month. The target population is approximately 13,000 people, including directly employed workers belonging to the Seoul Metropolitan Government and city investment agencies, workers belonging to subsidiaries of Seoul City investment agencies, private consignment workers (100% subsidized by the city), and New Deal job participants.

The living wage is mainly applied to workers in cities, investment/contribution organizations, and private entrusted organizations that are not subject to the civil service compensation system. It has the characteristics of a ‘public sector minimum wage’ as it seeks to stabilize livelihoods and provides support to enable practical living in areas such as education, culture, and housing.

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