Latest Minimum Wage for Working in Korea

Workers participating in the EPS Program go to work in 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 technical and professional workers (E7 visa) is based on the announcement of the gross national income (GNI) per capita in 2023 by the State Bank of Korea (March 5, 2024) and the adjustment of the E7 visa policy of the Ministry of Justice of Korea.

Specifically, the salary of employees in small and medium-sized enterprises, startups and medium-sized enterprises outside the Seoul capital area is not lower than 2.57 million won/month (about 48 million VND).

As for other businesses, employees receive a minimum wage of 2.937 million won/month (about 55 million VND/month).

According to Korean regulations in 2023 and 2024, each enterprise is allowed to recruit foreign workers with E7 visas not exceeding 30% of the total number of Korean workers currently working.

The Department of Overseas Labor Management encourages businesses to negotiate with Korean partners lower than the ceiling on food, accommodation and living conditions, and negotiate higher than the floor on travel expenses from Vietnam to the workplace or vice versa.

Enterprises are responsible for carefully studying the type of business of their partners, submitting required documents and providing complete and accurate information to successful employees.

In particular, businesses should pay attention to conditions regarding revenue, tax obligations, factories, and accommodation of workers when working in Korea...

In the first 4 months of 2024, more than 800 Vietnamese workers went to work in Korea.

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