In July, South Korea's real wages rose 4.8% year-over-year, while nominal wages increased 7.4%.

In July, South Korea's real wages rose for the fourth consecutive month, with nominal monthly wages increasing 7.4% year-over-year to 4,257,000 won (approximately $3,260). Real wages grew by 4.8% despite a slight uptick in consumer price inflation to 2.6%. Additionally, average working hours per employee rose 6.4% to 169.1 hours, with the mining industry logging the longest hours and construction the shortest.

September 30, 2024
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