Second Half Daily Wage for Production Jobs 96,716 Won... 2.0% Increase YoY

Korea Federation of SMEs, Results of Wage Survey Applied to Contracts with the State as a Party

[Asia Economy Reporter Kim Cheol-hyun] The average daily wage of production workers in small and medium manufacturing enterprises in the second half of this year was found to be 96,716 KRW. This represents a 2.0% increase compared to last year.

The Korea Federation of SMEs (Chairman Kim Ki-moon) announced the results of the "2020 Second Half Small and Medium Manufacturing Industry Wage Survey by Occupation," conducted on 1,400 small and medium manufacturing companies (with sales of 3 billion KRW or more) to provide basic data for labor cost calculation standards used in government contracts.

In August 2020, the average surveyed wage (daily wage) for all production worker occupations (130 occupations) in small and medium manufacturing enterprises was 96,716 KRW, which is a 2.0% increase from 94,836 KRW in the second half of 2019, and a 0.9% increase from 95,837 KRW in the first half of this year (based on March wages). Accordingly, from January 2021, small and medium enterprises bidding with the government and public institutions can expect bid price increases corresponding to the wage increase rates for each occupation.

In particular, the daily wage for simple labor workers (86,560 KRW), who are often employed in public simple labor service contracts, increased by 0.7% compared to the first half of this year, and team leaders (119,095 KRW) saw a 1.0% increase. The occupation with the highest wage was CAD Designer (Circuit) (134,108 KRW), while the lowest wage occupation was Glass Product Machine Operator (73,616 KRW).

Detailed information is available on the Korea Federation of SMEs website or the SME Statistics System, and the surveyed wages (daily wages) announced this time will be applied from January 1 next year.

This content was produced with the assistance of AI translation services.