The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Kim Min-gyu, Go Bo-gyeol bid farewell to 'The Heavenly Idol'

  • 3

    Han Suk-kyu on return of 'Dr. Romantic' with Season 3

  • 5

    Genesis launches 2023 G90 sedan

  • 7

    Churches, Seoul gov't unite to fight low birthrate

  • 9

    North Korea will pay price for reckless provocations, warns Yoon

  • 11

    N. Korea tests 'underwater nuclear attack drone,' cruise missiles for nuclear warhead: KCNA

  • 13

    Kakao Entertainment, Colombia Record team up for IVE's North American debut

  • 15

    Second daughter of Daesang chairman promoted to vice president

  • 17

    Over 70% of firms unwilling to embrace longer workweek

  • 19

    Crypto founder Do Kwon is indicted in US, following Montenegro arrest

  • 2

    Zoo shares sad story of what caused Sero the zebra to escape

  • 4

    Kim Nam-gil to embark on Asia fan-meeting tour

  • 6

    Kyochon heralds 30,000 won fried chicken era

  • 8

    Do Kwon, Korea's crypto 'genius' turned disgraced fugitive

  • 10

    What's next for Terra founder Do Kwon?

  • 12

    Hybe to sell SM shares to Kakao following failed takeover bid

  • 14

    Burnout: Cardiothoracic surgery residents work 102 hours a week

  • 16

    Montenegro charges crypto fugitive Do Kwon with forgery

  • 18

    BTS' Jimin releases solo album

  • 20

    More companies adopt electronic voting amid increase in shareholder activism

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Sun, March 26, 2023 | 20:50
Business
Korean workers hardworking but inefficient
Posted : 2010-12-08 18:36
Updated : 2010-12-08 18:36
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
By Cho Jin-seo

Korea has the most hard-working but least efficient workforce among the 30 OECD nations, but its productivity is improving fast, government research showed Wednesday.

The Ministry of Strategy and Finance said that Koreans work the longest hours in the OECD nations but their productivity is less than half of American workers. Korea also lags behind other OECD countries in other national competitiveness qualitative measures such as education and corruption.

The government will focus more on the “soft” aspect of the economy, the ministry said.

“Korea is ranked around 10th among 30 OECD nations in terms of the size of economy and trade. It is fast transforming into an innovative economy, but we still have so much to improve in qualitative aspects,” a ministry official said Wednesday.

“It is clear that we are shifting to a quality-oriented growth. What matters now is how fast we can change.”

Per-capita GDP was 25th largest on nominal terms, and 23rd considering the different price level of each country. But GDP growth rate and growth potential were both the third highest, and growth in labor productivity was the second highest among the 30 nations analyzed.

There were extreme variances in some parts of the scores released Wednesday. For example, the portion of young people going to college was the highest in the OECD, but the portion of Ph.D. holders in science and engineering was the lowest.

One field in which Korea excelled was recycling of garbage — first in the OECD. The Korean government is not alone in seeking supplements to the traditional barometer of gross domestic product (GDP) in measuring the quality and the competence of economy.

French President Nicolas Sarkozy has suggested that countries should factor happiness into statistics for growth. Joseph Stiglitz, an American economist, has long attacked the usefulness of GDP in measuring wealth and quality and efficiency of the economy, as seen in the relatively high health care spending by U.S. citizens and the poor outcome they get.

Critics of the GDP point out that the measure was first adopted for military use during the Cold War, as economic output reflected a country’s capability to support wars.

The problem is how to make a consolidated score system that spans the quantitative and qualitative factors. The finance ministry official who briefed reporters on Wednesday acknowledged this problem.



한국인 일 열심히 하나 비능률적

한국인은 30개 OECD국가 중 가장 열심히 일하지만 효율성이 최저로 나타났으나 최근 생산성이 빠르게 증가하고 있다고 정부의 한 조사에 나타났다.

기획재정부는 OECD 국가 중 최장시간 일을 하지만 생산성은 미국 근로자의 반도 안된다고 밝혔다. 한국은 교육과 부패 등 그 밖의 질적인 경쟁력에서 여타 OECD 국가에 뒤떨어진다.

정부는 경제의 ‘부드러운’면에 더 초점을 둘 것이라고 재정부는 말했다.

당국자는 “한국은 경제 및 무역 규모에서 OECD 30개국 중 10위 정도 랭크돼 있다.”며 “빠르게 혁신경제로 이동하고 있으나 질적인 면에서 개선해야 할 점이 아직 많다”고 말했다.
Emailcjs@koreatimes.co.kr Article ListMore articles by this reporter
 
Top 10 Stories
1Kyochon heralds 30,000 won fried chicken era Kyochon heralds 30,000 won fried chicken era
2Yoon's labor reform drive sputters due to controversy over lengthening workweek Yoon's labor reform drive sputters due to controversy over lengthening workweek
3Horace N. Allen: Joseon's foreign royal physician Horace N. Allen: Joseon's foreign royal physician
4Apple Pay service limited by lack of NFC terminalsApple Pay service limited by lack of NFC terminals
5From mines to mobility: 140-year-old partnership between Germany and Korea From mines to mobility: 140-year-old partnership between Germany and Korea
6Unrest on the Island of World Peace in 1903 Unrest on the Island of World Peace in 1903
7Chun Doo-hwan's grandson to apologize to bereaved families of Gwangju uprising Chun Doo-hwan's grandson to apologize to bereaved families of Gwangju uprising
8Foreign minister hosts Iftar dinner for Muslims in Korea Foreign minister hosts Iftar dinner for Muslims in Korea
9South Korea speeds up full-fledged deployment of US anti-missile batterySouth Korea speeds up full-fledged deployment of US anti-missile battery
10Firstborns account for record-high 63% of newborns Firstborns account for record-high 63% of newborns
Top 5 Entertainment News
1Kim Min-gyu, Go Bo-gyeol bid farewell to 'The Heavenly Idol' Kim Min-gyu, Go Bo-gyeol bid farewell to 'The Heavenly Idol'
2Han Suk-kyu on return of 'Dr. Romantic' with Season 3 Han Suk-kyu on return of 'Dr. Romantic' with Season 3
3Kim Nam-gil to embark on Asia fan-meeting tour Kim Nam-gil to embark on Asia fan-meeting tour
4Two curators to lead Korean pavilion at Venice Art Biennale in 2024 for first time Two curators to lead Korean pavilion at Venice Art Biennale in 2024 for first time
5[INTERVIEW] How ATEEZ achieved worldwide success INTERVIEWHow ATEEZ achieved worldwide success
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group