Production losses from labor disputes reach 1.6 tril. won in 2000

The Ministry of Commerce, Industry, and Energy announced Sunday that losses arising from labor-management disputes last year amounted to 1.64 trillion won in terms of production and $636 million in exports.

Compared to 1999 (1.89 trillion won in production losses, $771 million in exports), losses decreased by 13.5% in production and by 17.5% in exports.

Quoting the results of an investigation by the International Institute for Management Development (IMD) in Switzerland, the ministry said that Korea ranked 28th among the 47 surveyed countries in terms of overall competitiveness. In terms of competitiveness related to labor-management, however, Korea took the 44th position, much lower than Japan, Taiwan, Singapore, Hong Kong, and Malaysia.

Lee Byong-Ki eye@donga.com