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Wage Up 52 Percent in Korea, Down 3.2 Percent in Japan.

Posted November. 30, 2004 22:36,   


The average wage between 1998 and 2003 went up over 50 percent in Korea, whereas in Japan, it fell over the same period of time.

In a report “Revival of Japanese Economy and its Meaning” released on November 30 by the Korea Employers Federation, the rate increase in wage in Korea from 1998 to 2003 was 52.2 percent in Korea, while it decreased by 3.2 percent in Japan.

Out of these six years, wage went down for five years in Japan, except in 2000. However, in Korea, with the exception of 1998 when the country was harshly hit by the economic crisis, there has been a sharp increase every year.

When comparing the wage and productivity, the rate of wage increase surpassed the rate of productivity increase except for 1998 in Korea.

Korea’s wage in comparison with gross national income (GNI) per person was higher than that of Japan, at 1.81 to 1.30.

Ki-Jeong Ko koh@donga.com