The Complete Guide to the 2026 Minimum Hourly Wage and Monthly Salary Schedule
As the new year begins, the first thing many workers and job seekers check is the minimum wage for next year. This is especially true due to rising prices. Money actually deposited into the accountThere's growing interest in the actual minimum wage. With the new minimum wage set at 10,320 won, effective January 1, 2026, you're probably wondering how this amount will be reflected in your monthly salary. It's not just about knowing the hourly wage;, Amount after deducting the four major complex insurances and taxesIt is important to understand this article accurately. Minimum wage in 2026The most accurate pre-tax salary calculation method based on Monthly salary receipt tableWe will provide you with a complete guide to your financial planning.
This post details the key elements of the 2026 minimum wage, including the legal minimum monthly wage for a five-day workweek, the four major insurance policies, and tax deduction rates. Read it now. Minimum wage in 2026Check out everything about .
Analysis of the 2026 Minimum Wage Confirmed (10,320 won)
Minimum wage per hour in 2026 10,320 wonThe final decision was made. This represents a 290 won increase from the 2025 minimum wage of 10,030 won, representing an increase rate of 2.91 TP3T. This figure goes beyond a simple increase in wages; it is a significant indicator that directly impacts the overall job market and workers' living standards.
This minimum wage decision is particularly significant because it marks the first agreement reached between labor and management after 17 years of sharp conflict. While decisions are typically made through deliberation by public interest committee members of the Minimum Wage Committee, the 2026 wage was reached through a compromise between labor and management, coordinating their positions. This is expected to set a positive precedent for future minimum wage decisions.
The minimum wage increase rate of 2.9% is a slight increase from last year's increase rate (1.7%), but some analysts say that the impact on workers may be limited given the still high inflation rate. However, the hourly wage 10,320 wonWith this, full-time workers' pre-tax monthly salary is expected to exceed 2.15 million won, which is expected to contribute to securing a minimum living security net. Minimum wage in 2026The application period is from January 1, 2026 to December 31, 2026.
2026 Minimum Wage and Monthly Wage Mistakes… Reference
Background to the labor-management agreement after 17 years
This minimum wage, the first unanimous decision by labor and management since 2008, is being evaluated as a realistic outcome that simultaneously considers employment stability and price stability amidst rapid economic fluctuations. Labor demanded a substantial increase in workers' income, while management argued for a limit on the increase, taking into account the economic situation. Despite these conflicting positions, 10,320 wonThe agreement on this amount was possible thanks to mutual compromise and understanding. This could have a positive impact on future social dialogue.
| year | minimum wage | Increase amount | Impression rate |
|---|---|---|---|
| 2024 | 9,860 won | – | – |
| 2025 | 10,030 won | 170 won | 1.7% |
| 2026 | 10,320 won | 290 won | 2.9% |
2026 Minimum Wage and Monthly Wage Mistakes… Read More
The Secret to Calculating Minimum Wage Monthly Salary (What 209 Hours Mean)
Even if you know that the minimum wage is 10,320 won per hour, you shouldn't simply multiply it by 160 hours (based on a 4-week period) to convert it to a monthly salary. When calculating the monthly salary of a full-time worker working 8 hours a day, 5 days a week under the Labor Standards Act, Holiday allowanceThis must be included. Because of this holiday allowance, the number '209 hours' appears when calculating the minimum wage per month.
Holiday pay refers to a day's wages paid to employees who work more than 15 hours per week. This is a legal requirement to ensure workers' health and rest. Minimum wage in 2026The monthly salary of a full-time worker receiving this holiday pay must be calculated to include this holiday pay. This is what we are looking for. Minimum hourly wage, monthly salary, net take-home payis the starting point.
The 209 hours used to calculate monthly wages is the official figure representing the average monthly working hours per year. The pre-tax monthly wage based on the 2026 minimum wage calculated using this formula is 2,156,880 wonBoth employers and employees must be fully aware that this amount represents the legally guaranteed minimum monthly salary, which can help prevent unnecessary labor disputes.
Formula for calculating 209 hours including holiday pay
Let's understand how 209 hours is calculated through a specific formula. This calculation method is Standards specified in the Labor Standards ActFollows.
- Regular working hours: 40 hours per week (actual work)
- Weekly holiday allowance hours: 8 hours per week (paid holidays)
- Total paid hours: 48 hours per week
- Number of weeks based on monthly conversion: 4.345 weeks (52.14 weeks / 12 months)
- Monthly working hours: 48 hours × 4.345 weeks = 208.56 hours (approximately 209 hours)
Therefore, the minimum wage for 2026 (before tax) is as follows:.
Minimum monthly salary (before tax) in 2026
10,320 won (hourly wage) x 209 hours = 2,156,880 won
If you work full-time 5 days a week, you should be earning at least 2.15 million won in salary by 2026. legally guaranteed minimum wagewill be satisfied.
2026 Minimum Hourly Wage and Monthly Wage Earnings Table Fully Released
This is the most important information. After deducting the four major insurance premiums, income tax, and local income tax from your pre-tax salary, the actual amount deposited into your account is Net salary in 2026Let's calculate it accurately. The deduction amount varies depending on the employee's contribution rate (approximately 8.61 TP3T to 101 TP3T), and the income tax portion may vary depending on the number of dependents and whether or not there are any tax-exempt items. This calculation is based on a single-person household with no tax-exempt items. The National Pension rate is likely to increase from 9.01 TP3T to 9.51 TP3T in 2026, so the calculation reflects this.
Based on the minimum monthly salary of 2,156,880 won in 2026, the total deduction is expected to be around 220,000 won. The amount after deducting this deduction is the amount you will receive. substantial Minimum wage in 2026no see.
| division | Amount (monthly) | note |
|---|---|---|
| Pre-tax salary (209 hours) | 2,156,880 won | 10,320 won × 209 hours |
| Total deduction (4 major insurances + tax) | About 222,810 won | Based on one-person household |
| Net salary (after tax) | About 1,934,070 won | Actual bankbook deposit amount |
In conclusion, full-time workers subject to the minimum wage in 2026 will About 1.934 million won per month level Actual amount receivedYou can expect to receive this amount. This amount may vary depending on your work schedule (4-day workweek, part-time, etc.), so it is important to calculate your exact working hours into monthly hours. Hourly wage 10,320 wonAlthough the actual take-home pay has increased slightly as the salary increases, managing living expenses is still an important issue for those just starting out in society or non-regular workers.
Detailed Analysis of the Four Major Insurance and Tax Deduction Items (Reflecting National Pension 9.5%)
The four major insurance premiums and taxes deducted from our salaries form the basis of the social security benefits we receive from the government. Understanding the burden rates and calculation methods for these deductions is crucial for interpreting your payslip. This is especially true given the high likelihood of changes to the National Pension rate in 2026. Deductible amount This part should be carefully considered when calculating.
The four major insurances are health insurance, national pension, employment insurance, and industrial accident compensation insurance. Of these, industrial accident compensation insurance is entirely borne by employers, so employees are responsible for three items. Additionally, health insurance premiums Long-term care insurance premiumsis additionally included and deducted.
| Deduction items | Employee Burden Rate (Projected 2026) | Monthly deductible (approx.) |
|---|---|---|
| National Pension | 4.5% (out of 9.0% total) or 4.75% (when reflecting 9.5% total) | 97,050 won ~ 102,460 won |
| health insurance | 3.595% (out of 7.19% total) | 77,530 won |
| Long-term care insurance | 12.95% of health insurance premiums | 10,040 won |
| Employment Insurance | 0.9% | 19,410 won |
| Income tax and local income tax | Application of simplified tax table (income tax 10% is local tax) | About 18,000 won |
As shown in the table above, the deduction for the four major insurances accounts for approximately 10% of monthly salary. In particular, the fluctuation of the national pension rate 2026 net take-home payAs it has a great impact on your income, it is necessary to constantly check the latest information. For reference, income tax is determined by the simplified tax table, and the more dependents you have, the lower the deduction amount. Increase in actual take-home payIt will be done.
2026 Minimum Wage Monthly Salary Conversion Table by Employment Type
Not all workers work 40 hours a week, five days a week. Part-time or part-time workers receive different monthly salaries based on their weekly work hours. However, in all cases, Minimum wage in 2026The standard of 10,320 won per person must be maintained. The table below summarizes the pre-tax monthly salary for various employment types.
Since weekly holiday pay is paid when working more than 15 hours per week, weekly holiday pay hours (20% of working hours) are not included in the monthly calculation for employees working less than 15 hours per week. Please keep this in mind and compare it with your employment contract to ensure you are being paid correctly. Minimum hourly wage, monthly salary, net take-home pay It is best to use a calculator for calculations.
- 40-hour workweek It is 2,156,880 won, including 209 hours of holiday pay.
- 30-hour workweek (30/40 * 209 hours) 156.75 hours are applied, and holiday pay is also included.
- Less than 15 hours of work per week Since holiday pay is not applied, only actual working hours are calculated.
Minimum wage conversion details per hour
| division | Calculation formula | 2026 amount |
|---|---|---|
| hourly wage | – | 10,320 won |
| First class (8 hours) | 10,320 won × 8 hours | 82,560 won |
| Weekly wage (48 hours, including holidays) | 10,320 won × 48 hours | 495,360 won |
| Monthly salary (209 hours, before tax) | 10,320 won × 209 hours | 2,156,880 won |
Frequently Asked Questions (FAQ)
We've compiled and answered your most frequently asked questions about the 2026 minimum wage.
Will the 2026 minimum wage be the same for all industries?
Yes, that's right. According to the Minimum Wage Act, the minimum hourly wage will be raised in 2026. 10,320 wonIt applies equally to all workers regardless of employment type, nationality, or industry. However, a reduction may be permitted for some exceptions, such as workers on probation (when contracted for more than one year) or workers with disabilities. However, in most workplaces, Salary above minimum wagemust be paid.
What should I do if I haven't received my holiday pay?
If you worked more than 15 hours a week and showed up without absence, your employer is legally obligated to pay you holiday pay. If you haven't received it, it constitutes unpaid wages. First, request payment from your employer. If the issue is not resolved, you can seek relief by filing a complaint or report to the Ministry of Employment and Labor for unpaid wages. Holiday pay is Minimum wage in 2026is an essential element that constitutes .
Can I increase my actual take-home pay by reducing the deduction for the four major insurances?
Since the four major social insurances are legally mandated, it is impossible to arbitrarily refuse to enroll or lower the deduction rate. However, it is possible to maintain pre-tax wages while reducing the taxable amount by utilizing non-taxable items (e.g., meal expenses, vehicle maintenance expenses). tax deductionBy minimizing Actual amount receivedThere are ways to increase this. In this case, it is recommended that you consult with your accountant.
What should I do if I receive less than the minimum wage in 2026?
If your employer pays less than the legal minimum wage of 10,320 won per hour, this is clearly illegal. You can report this to the Employment and Labor Office with jurisdiction over your workplace. Depending on the results of the Ministry's investigation, you may be entitled to unpaid wages, and the employer may face fines or other penalties. It's important to keep all supporting documentation (employment contracts, pay stubs, etc.) safe.
Are bonuses included when calculating the minimum wage?
Yes, they can be included. Starting in 2019, the minimum wage calculation scope will be gradually expanded, including bonuses and welfare benefits paid regularly. However, this only applies to amounts paid regularly, at least once a month, and the inclusion rate may vary depending on the type of employment or payment regulations. Minimum wage in 2026 When applying, you must carefully check the wage composition items.
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Conclusion
So far, the monthly salary calculation method based on the minimum hourly wage of 10,320 won in 2026 and the actual amount deposited into the account after deducting the four major insurances 2026 Monthly Salary TableWe've taken a closer look. Accurate wage calculations are the first step toward protecting workers' legitimate rights and are essential information for financial planning.
I'll summarize the key points in three lines.
- The minimum wage in 2026 is 10,320 wonIt was confirmed through labor-management agreement after 17 years.
- The legal minimum monthly wage (before tax) including holiday pay is based on 209 hours 2,156,880 wonno see.
- After deducting the four major insurances and taxes Minimum wage in 2026It is expected to be around 1,934,070 won.
We encourage you to accurately understand the value of your valuable labor and plan for a more financially prosperous 2026. We hope this complete guide has been helpful in answering your salary-related questions.