Almost Half of Workers Underpaid

Two out of five workers in Korea earn less than W2 million a month, the latest statistics show, and most young workers have lowly service-sector jobs (US$1=W1,069).

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According to Statistics Korea, 41.7 percent of Korea's 20.1 million salaried workers earn less than W2 million a month. That is slightly fewer than the 45.2 percent in 2016 but still means that almost half of all workers in the country are underpaid.

Some 10.9 percent make less than W1 million, while 30.8 percent earn between W1 million and W2 million.

In farming and fisheries, a whopping 79.4 percent of workers earn less than W2 million, and in hospitality 74.3 percent.

In banking and insurance the pay is much better, with 35 percent earning more than W4 million and only 19.5 percent less than W2 million.

Among workers between 19 and 29, 13.3 percent work in restaurants and bars, which include bakeries, fast-food joints and diners. Next was retail, which employed 11.8 percent of young workers.

Those industries also account for the largest numbers of temporary workers.

A Statistics Korea staffer said, "It appears that students who are preparing for jobs often take part-time jobs to make a little money".