South Korea's Minimum Wage Commission has set next year's minimum wage at eight-thousand-590 Korean won approximately 7 dollars 30 cents an hour.
That's two-point-nine percent higher than the current rate of 8-thousand-350 Korean won just over seven U.S. dollars.
It will be the smallest increase since 2010 and under the Moon administration.
The increase for 2018 was a whopping 16-point-4 percent and 10-point-9 percent this year.
The decision was made early Friday through a vote by commission, after a marathon 13 hour-long meeting.
The decision will be finalized by the Ministry of Employment and Labor on August 5th.