On January 13, the Department of Overseas Labor Management (Ministry of Labor, Invalids and Social Affairs) said that the Korean Ministry of Labor has just announced the application of the minimum wage from January 1, 2024.
Vietnamese workers in Korea will get a salary increase in 2024
Accordingly, the minimum hourly wage is 9,860 won (about 180,000 VND), an increase of 240 won, an increase of 2.5%. This increase is not much different from the minimum wage of 9,620 won applied in 2023.
The minimum monthly wage (based on the standard of 40 hours/week, 209 hours/month) is 2.06 million won (equivalent to more than 38.5 million VND).
Applicable period from January 1 to December 31, 2024. The scope of application is uniform in all businesses regardless of business type.
Previously, employers nationwide had proposed not to raise the minimum wage. Meanwhile, workers proposed a new hourly minimum wage of 12,210 won, about 220,000 VND, an increase of 26.9% compared to the current level, based on the reason that inflation has increased sharply.
In addition to receiving basic salary, Vietnamese workers also receive overtime pay and participate in insurance according to Korean regulations.
According to the Ministry of Labor, Invalids and Social Affairs, along with Japan and Taiwan, South Korea is one of the three key labor markets of Vietnam. In 2023, the total number of workers going to work in this market is 11,626.
Long-term workers (over 5 years) in this country receive a salary of 2,000 - 2,500 USD/month (equivalent to 46 - 58 million VND). To date, nearly 50,000 Vietnamese workers are working in Korea in the fields of production, manufacturing, construction, agriculture and fisheries, through many forms.
Recently, South Korea announced an increase in the recruitment quota for Vietnamese workers in 2024. Accordingly, the Korean side will recruit 15,374 people (an increase of more than 3,000 people compared to 2023) in the following fields: manufacturing, agriculture, construction, and fisheries.
A notable new point is that the selection of workers to go to Korea will take place nationwide, without applying temporary suspension measures in localities as in previous years, except for some specific minority industries such as agriculture and fisheries.
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