South Korea has a new plan for the minimum wage next year. On Tuesday, a special group decided the hourly wage will be 10,700 won. This is a 3.7 percent increase from this year. The workers wanted 12,000 won per hour because life is expensive. However, the business owners wanted to keep the wage the same at 10,320 won. The group chose 10,700 won to find a middle way. The government will announce this official number by August 5.
At the same time, a large technology company called SK hynix is growing very fast. This company makes memory chips for big companies like Nvidia. SK hynix wants to sell many shares in the United States. They want to raise 26.5 billion dollars in the US stock market. Many investors are very interested in this company. In fact, many more people want to buy the shares than the company planned to sell.
The company will use this money to build new factories in South Korea. They will build a large factory in Yongin and another facility in Cheongju. These new buildings will help the company make more chips for artificial intelligence (AI) technology. These two stories show different parts of the Korean economy. One story is about the daily pay for workers, and the other is about big technology growth around the world.