The 2026 Minimum Wage Monthly Figure: Does It Include Weekly Holiday Pay?

As of September 24, 2026. The period runs from January 1 to December 31, 2026, and the rate is the same across industries.

Who it applies to

Workers covered by the Minimum Wage Act. There are limited exceptions allowing a reduction — simple labor not exceeding 3 months of probation and contracts under a year — so whether a reduction is lawful should be checked separately against the contract and the Minimum Wage Act. The figures in this post assume no reduction.

The formulas

Hourly rate: 10,320 won.

Monthly figure at 40 hours a week = 10,320 won × 209 hours = 2,156,880 won.

The 209 hours are the weekly scheduled 40 hours plus 8 hours of paid weekly holiday, converted to a month. That is why the notified monthly figure of 2,156,880 won includes the weekly holiday allowance. The hourly rate of 10,320 won does not include it.

What counts toward the minimum wage is wages paid regularly at least once a month. Compare after excluding payments in kind rather than cash, and overtime pay beyond scheduled hours.

If you work fewer than 40 hours a week, you must not apply 209 hours unchanged. Add the weekly holiday hours to that week's scheduled hours and work back to an hourly rate.

Examples

Paying 2,156,880 won a month to a 40-hour worker, with no meal allowance or overtime inside it, gives an hourly rate of 10,320 won, matching the notice.

Paying 2,000,000 won a month for 40 hours without a separate weekly holiday allowance gives an hourly rate of about 9,569 won when divided by 209 hours. That is below 10,320 won.

Sources

Ministry of Employment and Labor Notice No. 2025-47 (2025.8.5.); Korea Briefing, "2026 hourly minimum wage 10,320 won" (2025.12.19.); the 2026 minimum wage set by the Minimum Wage Commission.