Korean productivity 4th-lowest in OECD
August 11, 2008

Korea’s 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 workforce.

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. Yonhap