π Minimum wage
The Republic of Korea has a minimum wage system to guarantee a minimum level of wages for workers, ensure living stability, improve the quality of the workforce, and promote the sound development of the national economy.
This also applies equally to foreigners working in Korea.
π The minimum wage in 2024 is 9,860 won (2.5% increase from the previous year)
Based on 40 hours of work per week and 209 hours per month, approximately 2,060,740 won per month
π Holiday allowance
Workers who work more than 15 hours a week are given one day off per week, during which they are entitled to holiday pay.
This is equivalent to 120% of the minimum wage and is calculated as 'daily regular working hours X hourly wage'.
Salaried workers receive holiday pay included in their monthly salary, while hourly workers receive it when they work more than 15 hours a week.
ex) If you work 8 hours a day for 5 days a week, you will receive an additional daily wage of 8 hours X (hourly wage) 9,860 won = 78,880 won as holiday pay.
π The hourly wage including holiday pay in 2024 is 11,832 won
π Night shift allowance
This applies only to workplaces with 5 or more employees, and is an additional 50% of the regular wage when working from 10 PM to 6 AM.
ex) If you worked 5 hours at night, you will receive an additional 24,650 won, which is 50% of 5 hours X (hourly wage) 9,860 won = 49,300 won.