SEOUL, Korea, Nov 26 (Korea Bizwire) – You need to work at least 48 minutes to buy one Big Mac in Korea, if you are paid the local minimum wage, according to a survey conducted by Albamon, a leading local job portal. The survey delved into information regarding ‘Big Mac PPP’ of 22 nations belonging to OECD members. PPP refers to Purchase Power Parity, a theory that currencies adjust according to changes in their purchasing power. In this context, Korea has turned out to have come in 13th out of the 22 nations in terms of “purchasing power for Big Mac.”
In the meantime, Only Korea and Poland have succeeded in reducing the condition of working hours to buy one Big Mac over the period of past ten years. That is, you had to work 62.17 minutes to get one Big Mac in the year of 2003 — 13.7 minutes longer than the working hours of Today. Unfortunately, Mexico sees her working hours to buy one Big Mac have recorded 293.68 minutes –the largest working hours increase over the decade. This is 103 minutes longer than the figure recorded in 2003.