Sejong: Labor and management representatives narrowed the gap in their minimum wage proposals for next year to 860 won (US$0.57) on Thursday. The labor side proposed an hourly minimum wage of 11,350 won for the upcoming year, while the management side suggested 10,490 won during their seventh revisions at a meeting of the Minimum Wage Commission held in the central administrative city of Sejong.

According to Yonhap News Agency, the proposed figures represent an increase from this year's 10,320 won, with the labor side suggesting a 10 percent rise and the management side a 1.6 percent increase. The Minimum Wage Commission comprises representatives from labor, business, and public interest groups. In the previous session on Tuesday, the gap between the two proposals had been narrowed to 990 won, indicating ongoing negotiations and adjustments from both sides.