South Korea
Labor Cost Index
155.1
- South Korea
- Global Median
Source: IMF
Definition of Labor Cost Index
The index reflects the level of the total compensation of employees in the economy. Labor costs are defined as core expenditure borne by employers for the purpose of employing staff. They include employee compensation, with wages and salaries in cash and in kind, employers' social security contributions and employment taxes regarded as labor costs minus any subsidies received.
