The paradox of the semiconductor boom…the ‘labor share’ of GDP at an all-time low
South Korea's economic growth is likely to reach 3.6% or higher this year, driven by a semiconductor boom. However, the labor share of GDP has decreased to 41.1% in the second quarter, the lowest since 2010, while corporate profits have surged. The labor share has dropped 6.8 percentage points from the same period last year, and 5.7 percentage points from the fourth quarter of last year. Experts suggest that active investment in job creation is needed to alleviate polarization.
Written by urgent.news from Hankyoreh's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
