Taiwan to raise minimum wage to NT$28,590 starting Jan. 1

Taipei, Sept. 19 (CNA) The Ministry of Labor has officially announced that the minimum monthly wage will rise from NT$27,470 (US$860.2) to NT$28,590 starting Jan. 1 next year.

The hourly wage will also increase from NT$183 to NT$190, benefiting around 2.57 million workers, it said in a statement issued Thursday.

This adjustment follows a review by the Minimum Wage Deliberation Committee, which considered factors such as the Consumer Price Index (CPI) growth and overall economic conditions. Labor Minister Ho Pei-shan (何佩珊) approved a 4.08 percent increase.

The ministry estimates that this change will result in additional costs of NT$1.441 billion for labor, NT$25.352 billion for businesses, and NT$1.479 billion for the government.