Korea's labor productivity index rose to 104.1 in 2017: KPC
  • 6 years ago
It was found that workers in South Korea's manufacturing sector were more productive than ever last year beating its previous record set seven years ago.
According to the report by the Korea Productivity Center, the nation overall had an hourly labor productivity index last year of over one-hundred-and-four, up 3-point-2 percent on year.
The gain was led by the manufacturing sector, which saw its productivity jump by almost 6 percent to the highest level since 2010.
Within manufacturing, medical, precision and optical instrument businesses saw the highest rise in productivity at 23 percent... followed by the transportation equipment sector with nearly 20 percent.
The report said overall labor input -- that is, the number of laborers times the number of working hours -- was reduced while added value was increased.
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