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[Graphic News] Korean firms face growing labor costs, declining productivity

By Korea Herald

Published : June 27, 2016 - 18:20

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Revenue and operating profit generated per worker at the top 30 listed companies here have been falling in the past five years, but pay on average has been growing in the same period, a study showed Monday.

According to the Federation of Korean Industries, sales produced per employee dropped 2.7 percent on average from 1.07 billion won ($902,800) in 2011 to 968.6 million won in 2015. Operating profit per employee also declined 7.1 percent on average from 71.32 million won to 53.17 million won. The cost of labor per employee, however, rose 4.2 percent from 74.53 million won to 87.87 million won in the same period, FKI added.

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