wage gap Archives | Be Korea-savvy
Length of Service Wage Gap Higher in S. Korea than Japan

Length of Service Wage Gap Higher in S. Korea than Japan

SEOUL, Dec. 26 (Korea Bizwire) — Amid the controversy over the revision of the minimum wage act, which includes a weekday off, South Korean companies are facing a complicated wage system. At the same time, South Korean companies have shown greater flexibility with wage increases than in Japan, meaning wages will naturally increase as service [...]

Wage Gap Between Large, Small Firms Widens to 1.7 Fold in 2014: Report

Wage Gap Between Large, Small Firms Widens to 1.7 Fold in 2014: Report

SEOUL, Dec. 10 (Korea Bizwire) — The wage gap between workers in large companies and small and medium-sized enterprises (SMEs) widened in 2014 amid a deepening polarization of the labor market, a report said Monday. According to the report published by the Bank of Korea (BOK), large businesses — those with 300 or more workers [...]

Education Widens Wage Gap

Education Widens Wage Gap

(Image: Yonhap) SEOUL, Sept. 12 (Korea Bizwire) – The wage gap between university graduates and high school graduates in South Korea has widened, surpassing the OECD average. The country’s dwindling birth rate is mirrored in the reduced student-to-teacher ratio, but it is still above the OECD average. The Ministry of Education (MOE) and Korean Educational Development [...]

4 in 10 South Korean Small Business Owners and Salaried Workers Earn Less than 10 Million Won Per Year

4 in 10 South Korean Small Business Owners and Salaried Workers Earn Less than 10 Million Won Per Year

SEOUL, May 10 (Korea Bizwire) – A new report from the Korea Labor Institute (KLI) has revealed that around four in ten South Korean independent business owners and salaried workers earn less than 10 million won ($8,820) per year, well below the average annual income. Of nearly 26 million income earners in 2015, 38.4 percent made [...]

Wage Gap Between SMEs, Conglomerates Widens in 2015

Wage Gap Between SMEs, Conglomerates Widens in 2015

SEOUL, March 2 (Korea Bizwire) – The wage gap between South Korea’s small and medium enterprises (SMEs) and conglomerates expanded on-year in 2015, data showed Tuesday, reflecting the growing imbalance in compensation among salaried workers. According to the data compiled by the Ministry of Employment and Labor and Statistics Korea, employees at smaller companies only made 62 percent of [...]