The New Zealand government confirmed recently that the adult minimum wage would increase from $18.90 to $20.00 per hour from 1 April 2021.
The starting-out and training minimum wage rates will also increase on 1 April 2021, from $15.12 to $16.00 per hour.
All employers need to ensure their payroll systems and processes are updated.
All employers and employees should note the minimum wage changes, as it sets a new relative benchmark for pay negotiations.
The Ministry of Employment and Labor set the 2021 minimum hourly wage at 8,720 (up 1.5% or 130 won) on 5 August 2020.
The 2021 minimum wage in South Korea is now 8720 won per hour.
If translated into a monthly wage (209 hours per month: 40-hour workweek, including paid weekly holidays), this means 1,822,480 won per month.
The increase comes into effect on 1 January 2021.
The National Council on Minimum Wage (NCMW) approved a $192 minimum wage for 2021 for Garment and Footwear Industry Workers. Probationary workers will see an increase to $187 per month. The increase will see the minimum wage go from $190 in 2020 to $192 per month for 2021.