SEJONG, Oct. 8 (Korea Bizwire) — The value of unpaid household work, such as meal preparation and child care, was estimated at 361 trillion won (US$319 billion) in 2014, state data showed Monday.
The 2014 figure was up 90.1 trillion won, or 33 percent, from five years earlier, according to the data released by Statistics Korea.
All household chores, including caring for family members, and volunteering, were included in the so-called household satellite account, and the calculation shows the value of unpaid services and activities, the agency said.
Unpaid work at home in 2014 was equivalent to 24.3 percent of the country’s gross domestic product, slightly higher than the 23.5 percent portion seen in 2009, the data showed.
The data also showed that the value of unpaid household chores per person was 7 million won in 2014, up 29.5 percent from five years earlier.
Maintaining a home, from the preparation of meals to doing laundry, accounted for 62.8 percent of the unpaid work, and the value of caring for family members came next, at 25.9 percent.
The value of household transport services — driving to work or taking kids to school — made up 9.8 percent of the unpaid work, the latest findings showed.
The statistical office also said the value of unpaid work at home by men was estimated at 88.3 trillion won in 2014, up 38.5 percent from 2009, with the corresponding figure for women being 272.5 trillion won, rising 31.7 percent over the cited period.
More specifically, unpaid work at home per woman is estimated at 10.7 million won, with the value of unpaid household chores per man reaching 3.46 million won.
“The value of unpaid chores in a three-member household is estimated at some 21 million won on average, and that for a 4-member standard household is projected at 28 million won,” an official at the statistical agency said.