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KEF finds South Korea has biggest salary gap based on number of years worked Updated: 2021-12-03 17:02:36 KST


South Korea has one of the biggest disparities in wages based on the number of years worked.

The Korean Enterprises Federation compared the wages of employees who worked less than a year in Korea to that of those who worked for more than 30 years.
It turned out, veteran workers received 2.9-5 times more than newbies.
This was a bigger gap than seen in 15 other countries in Europe and Japan.
Those who have worked more than 30 years in countries like Germany, France and the UK earned an average 1.6-5 times more than those who had worked less than a year.
Japan has seen the second biggest gap next to Korea, with workers with more years of experience receiving 2-point 2-7 times the salary of new workers.

The KEF said that Korea has been seeing higher wages overall though.
Korean workers who worked less than a year received an average 2-thousand 7-hundred 44 dollars each month, which was 14.7 percent higher than in Japan.
Korean workers who worked for more than 30 years received 8-thousand 89 dollars each month, which was 48.9 percent higher than those in Japan.

Regardless, the KEF said South Korea should pay workers according to performance rather than seniority to increase overall productivity.
This comes as more and more countries have been reducing this salary gap.
South Korea has also been working towards that from the early 2000s when experienced workers were earning almost four times that of newbies.
Shin Ye-eun, Arirang News.
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