▲Data image
An analysis showed that the monthly wages of Korean workers have more than doubled in 20 years, surpassing Japan.
On the 17th, the Korea Employers Federation (KEF) announced the report ‘International Comparison of Korean and Japanese Wage Trends and Implications’, which analyzed wages between Korean and Japanese companies in 2002 and 2022.
According to the report, as a result of comparing the total monthly wages of regular workers in companies with 10 or more employees in both Korea and Japan, Korea’s wage in 2002 was 1,798,000 won, which was lower than Japan’s 3,854,000 won.
However, 20 years later, in 2022, Korea recorded 3.998 million won, surpassing Japan with 3.791 million won.
▲ Changes in monthly wage levels by Korean and Japanese company size in 2002 and 2022 Photo: Yonhap News
By size, wages at large Korean companies rose 157.6% from 2.284 million won in 2002 to 5.884 million won in 2022.
During the same period, small and medium-sized businesses’ wages rose from 1.608 million won to 3.399 million won, an increase of 111.4%.
On the other hand, wages in Japan showed little change during the same period.
In Japan, large companies actually decreased from 4.836 million won to 4.434 million won, and small and medium-sized companies increased slightly from 3.106 million won to 3.269 million won.
As wages at large Korean companies have risen significantly, the gap between large companies and small and medium-sized companies has become wider than in Japan.
When the wages of large companies in Korea and Japan are set to 100 in 2022, the wage level of small and medium-sized companies was 57.7 in Korea and 73.7 in Japan.
Regarding the wage gap between company sizes, Ha Sang-woo, head of the Economic Research Division of the Federation of Korean Industries, said, “The wage gap and the resulting deepening of the dual structure are causing various social conflicts.” He added, “The more high-wage companies are, the more they refrain from raising wages as much as possible to expand jobs for young people and increase the number of small and medium-sized partners.” “We need to make efforts to improve management conditions,” he said.
#Salary #Large company #Small and medium-sized company #Japan
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2024-03-17 05:40:01
#Koreas #salary #doubled #years #earning #Japans
