Earlier this month, the Ministry of Employment and Labor announced that Korea's minimum wage for 2025 will be set at KRW 10,030 per hour. This amounts to an annual earning of KRW 25,155,240, based on a 40-hour work week and 209 hours per month. In Korea, the minimum wage is uniformly applied across all workplaces, regardless of business type or number of employees. However, please note that it does not apply to businesses employing only family members living together or to domestic workers.
This adjustment is particularly relevant for those renewing their F-2-7 status. Starting January 1, 2025, an annual income of KRW 25,155,240 or more (but less than KRW 30,000,000) for the years 2024 or 2023, depending on the filing date, must be shown to earn 10 points for the application.
This increase of KRW 426,352 from this year's KRW 24,728,880 marks the second-lowest rise since the minimum wage was introduced in 1988. This modest increase is expected to provide some relief to those who rely solely on business income and have been facing challenges recently.
Below is a table displaying the minimum wage figures in Korean Won (KRW) beginning from the year 2022.
| 2022 | 2023 | 2024 | 2025 |
Minimum Wage (per hour) | 9,160 | 9,620 | 9,860 | 10,030 |
Monthly Earning (based on Minimum Wage) | 1,914,440 | 2,010,580 | 2,060,740 | 2,096,270 |
Yearly Earning (based on Minimum Wage) | 22,973,280 | 24,126,960 | 24,728,880 | 25,155,240 |
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