Daily wage of 97,221 KRW for small and medium manufacturing in the first half of this year... "At the level of minimum wage increase rate"

Announcement of the "2021 First Half Wage Survey by Occupation in Small and Medium Manufacturing Industries" Results

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[Asia Economy Reporter Kim Bo-kyung] As of the first half of this year, the average daily wage for production occupations in small and medium-sized manufacturing industries was surveyed at 97,221 KRW. This represents a 1.4% increase compared to the same period last year, which is similar to the minimum wage increase rate of 1.5%.

The Korea Federation of SMEs announced on the 27th the results of the "2021 First Half Small and Medium Manufacturing Industry Wage Survey by Occupation," conducted on 1,400 small and medium-sized manufacturing companies with sales of over 3 billion KRW. This survey aims to provide basic data for labor cost calculation, which serves as the basis for manufacturing cost calculation when SMEs enter contracts with the government.

Based on wages as of March this year, the average daily wage for 129 production occupations in small and medium manufacturing industries was 97,221 KRW, showing a 1.4% increase compared to March last year (95,837 KRW), which is not significantly different from the 1.5% increase in the 2021 hourly minimum wage. Compared to August last year (96,716 KRW), it rose by 0.5%.

The occupation with the highest wage was "CAD Designer (Circuit)" (137,273 KRW), while the occupation with the lowest wage was "Glass Cutting and Trimming Worker" (70,167 KRW).

By major occupation, simple labor workers earned 81,196 KRW, up 0.7% from the second half of last year; team leaders earned 119,345 KRW, up 0.2%; and parts assemblers earned 84,628 KRW, up 1.4%.

For occupations where surveyed wages increased, from the second half of the year when these results are applied, it is expected that bid prices will rise in proportion to the increase rate of the unit price for those occupations.

The published surveyed wages will be applied starting from the 1st of next month. Detailed results by occupation and other survey data can be found on the Korea Federation of SMEs website or the Small and Medium Business Statistics System.

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