On July 10, 2025, the Minimum Wage Commission decided to set the minimum wage for 2026 at KRW 10,320 per hour, a 2.9% increase from this year. This amounts to an annual equivalent of KRW 25,882,560, 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 applying for or renewing their F-2-7 status. Starting January 1, 2026, individuals must show an annual income of at least KRW 25,882,560 for either 2025 or 2024, depending on the filing date, in order to earn points in the annual income category.
Below is a table displaying the minimum wage figures in Korean Won (KRW) beginning from the year 2023:
2023 | 2024 | 2025 | 2026 | |
Minimum Wage per Hour | 9,620 | 9,860 | 10,030 | 10,320 |
Monthly Equivalent | 2,010,580 | 2,060,740 | 2,096,270 | 2,156,880 |
Annual Equivalent | 24,126,960 | 24,728,880 | 25,155,240 | 25,882,560 |
We hope this article helps for your purposes. Please feel free to contact us at openvisakorea.com if you have any question or comment in this regard.
