Korean productivity 4th-lowest in
August 11, 2008
hourly labor productivity falls far short of other advanced nations, a report
showed yesterday, underscoring the need to enhance the quality of the country’s
According to the report compiled by the Organization for
Economic Cooperation and Development, Korean workers produced an average of
$20.4 worth of goods and services per hour in 2006, compared with the
organization’s average of $38. Korea’s labor productivity is the fourth-lowest
among the OECD members, after Turkey, Mexico and Poland, the report showed.
Hourly labor productivity figures were calculated by dividing each
country’s gross domestic product by its total working hours. Luxembourg topped
the list with its people producing $72.2 worth of goods and services per hour.