A jobseeker passes by a board of job listings on the wall of a state-run employment agency in Seoul, Thursday. Yonhap

By Lee Kyung-min

Kim Joo-won, 42, who owns a small restaurant in Seoul, said Thursday that he will have to let at least one worker go if the government's new hourly minimum wage takes effect next year.

"The minimum wage has been on a sharp rise in recent years, and it is certain to rise yet again next year. I can't take it anymore," Kim said.

The restaurant owner said his business is far from making a meaningful turnaround after years of the COVID-19 pandemic, and the minimum wage hike is not helping him.

Kim said he had to lay off a couple of minimum wage workers two years ago at the beginning of the health crisis, mostly because of limitations on private gatherings and restrictions on operating hours.