Latest minimum wage when working in Korea

Workers participating in the EPS program go to work in South Korea under contract - Photo: HA QUAN

According to the Department of Overseas Labor Management (Ministry of Labor, Invalids and Social Affairs), the announcement of new regulations for skilled technical workers (E7 visa) is based on the 2023 Gross National Income (GNI) per capita data published by the Bank of Korea (March 5, 2024) and adjustments to the E7 visa issuance policy by the Korean Ministry of Justice .

Specifically, the minimum wage for workers in small and medium-sized enterprises, startups, and medium-sized businesses outside the Seoul metropolitan area must not be less than 2.57 million won per month (approximately 48 million VND).

For other businesses, employees are entitled to a minimum wage of 2.937 million won per month (approximately 55 million VND per month).

According to South Korean regulations for the years 2023 and 2024, each company is allowed to hire foreign workers with E7 visas at a rate not exceeding 30% of the total number of South Korean employees.

The Department of Overseas Labor Management encourages businesses to negotiate with their South Korean partners for accommodation and living conditions below the ceiling, while negotiating for travel expenses from Vietnam to the workplace or vice versa above the floor.

Businesses are responsible for thoroughly researching the business type of their partners, submitting the required documents, and providing complete and accurate information to successful applicants.

In particular, businesses should pay attention to conditions regarding revenue, tax obligations, factory facilities, and worker accommodation when working in South Korea…

In the first four months of 2024, more than 800 Vietnamese workers went to work in South Korea.

Source: https://tuoitre.vn/luong-toi-thieu-moi-nhat-khi-lam-viec-o-han-quoc-20240529090653036.htm