Appearance of a McDonald’s store in Japan. Tokyo/Kim So-yeon Correspondent,
, ‘This year, it seems that the minimum wage in Japan will be raised to the highest level ever. Unlike in Korea, there is a growing sentiment in Japan that a significant wage increase is needed for economic circulation such as activating consumption.’,
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, ‘On the 24th, the Asahi Shimbun reported, “This year’s minimum wage is expected to be increased by 50 yen (5%) compared to the previous year, reaching the highest level ever.” The final adjustment process has begun and the decision is expected to be made as early as today.’,
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, ‘Based on ongoing high prices and the results of the spring wage negotiations, the Japan Central Minimum Wage Council is in the final stages of adjusting this year’s minimum wage to be increased by around 50 yen on a nationwide average basis. It is projected to be the highest increase in 4 consecutive years, exceeding the 43-yen increase from last year. Currently, Japan’s minimum wage is around 1,004 yen per hour on average nationwide, and with a 50-yen increase, it will rise significantly to the mid-1050-yen range (approximately 9,400 won).’,
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, ‘Even with Japan’s minimum wage reaching the mid-1050-yen range, it is still at a low level compared to other advanced countries including Korea due to stagnation in wage increases and the influence of the yen. Asahi Shimbun reported, “When converted to purchasing power evaluation considering prices, Japan’s minimum wage is about 40% lower than that of France and Germany based on the 2022 standards.” The Japanese government has set a goal to raise the minimum wage to an average of 1,500 yen nationwide by the mid-2030s. In Korea, the minimum wage for next year has been set at 10,300 won per hour, which is a meager increase of 1.7% compared to this year, the second lowest increase rate in history.’,
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, ‘In Japan, the minimum wage is determined annually around the summer by the Central Council, allocated regionally, and then finalized by convening councils in 47 prefectures. Unlike Korea, where the entire country receives the same minimum wage, in Japan, minimum wages vary between expensive areas like Tokyo and other regions. In an effort to alleviate the persistent issue of regional wage disparities, the Japanese government has reduced the number of regional grades from 4 to 3 since last year. This is the first revision in 45 years.’,
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