South Korea’s minimum wage for next year has been set at 8,350 won (MUR 258) per hour. The minimum wage for next year increased by a smaller amount, and experts are speculating that the council is controlling the level of the hike following criticisms that small business owners are suffering from increased labor costs. Both labor and business communities were not satisfi ed with the decision. President Moon Jae-in has vowed to increase the threshold to 10,000 won (MUR 285) by 2020 to achieve income-led growth. SOUTH KOREA TO RAISE MINIMUM WAGE FOR 2019 BY 10.9%