Korea (Japan) fact of the day

The average wage of Korean workers has surpassed that of Japan in terms of purchasing power parity (PPP) for the first time. In addition, Korea topped the list of OECD member countries in the pace of wage increases from 1990 to 2013. However, Korean ranked second among OECD counties in terms of wage inequality. Wages rose sharply but it happened around large companies so wage inequality was deepening among workers.

According to the 2014 wage report released by the Economic and Social Development Commission on Thursday, the wage of the average full-time Korean worker stood at $36,354 as of the end of 2013, higher than $36,354 in Japan in terms of PPP.

There is more here, via Jonathan Cheng.


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