S. Korea's labor productivity ranks 33rd in the world: report

SEOUL, Feb. 11 (Yonhap) -- South Korea's labor productivity ranked 33rd among 131
countries surveyed mainly due to the country's weak service sector, a report by a
state-operated organization said Thursday.
The report by the Korea Productivity Center (KPC) showed the country's labor
productivity, which measures per-capita value-added output, reached an average of
US$42,373 in the 2000-2007 period.
South Korea stood behind the 32nd-placed Slovenia on the list and slight better
than Serbia. Slovenia is not a member of the 30-member strong Organization for
Economic Cooperation and Development (OECD).
Of OECD members, only seven countries such as Mexico, the Czech Republic, and
Portugal ranked lower on the productivity scale than South Korea.
"On the whole South Korea's labor productivity is being fueled by manufacturing
businesses, while the service sector is dragging it down," said a KPC official.
He said the contribution made by the service sector to push up labor productivity
fell from 56.2 percent in the 1993-1997 period to 46.2 percent in the 2001-2007
time frame.
During the same time, the contribution made by manufacturing businesses rose from
30.4 percent to 46.6 percent.
The KPC, meanwhile, said Luxembourg topped the list with labor productivity
reaching $89,233 in the cited period, followed by the United States with $73,875.
The organization added, Norway, the United Arab Emirates and Belgium all made the
top five.
yonngong@yna.co.kr
(END)