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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 [...]