Korean workers producing more, making lessUpdated: 2014-04-28 03:43:41 KST
Korean workers are being paid less in recent years, even though their productivity has increased.
The Korea Institute of Finance says the gap between wages and productivity in Korea has grown since the 2008 financial crisis.
Korea had the fourth largest wage gap,.. after England, Japan and Israel.
The survey excluded Portugal, Italy, Ireland, Greece, Spain and countries that are not among the top 40 countries in the world for per capita GDP.
The report also showed productivity had increased by nearly ten percent over the same period.
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Western-style capitalism SHOULD let companies like Chrysler, General Motors, and big banks go out of business. Not receive government bailouts. The motto is, "Privatize profits and socialize losses".
This is western-style capitalism. Look to the North for a more equitable system.
They're producing more and being paid less. Where's the money going? My best guess is management is getting bonuses or pay increases.