Korea’s average weekly working hours down to OECD levels

[Image source: Gettyimagesbank]

South Korean workers’ actual weekly work hours have decreased by approximately 9 hours over 21 years, a report showed on Monday. Once one of the countries with the longest working hours in the world, Korea’s average working hours have come down to levels similar to those for developed countries.

According to a report published on Monday by the Korea Enterprises Federation (KEF), the average actual working hours per week for full-time wage earners in the country was 42 hours last year, an 8.8-hour decrease from 2001. This is 47 times the average decrease (0.2 hours) recorded for Organization for Economic Cooperation and Development (OECD) member countries over the same period, the KEF said.

Last year, the OECD average was 41 hours, a mere hour’s difference with South Korea and a contrast to the 9.9-hour gap in 2001.

The actual working hours of all workers have also rapidly decreased over the past 20 years. According to KEF, the annual actual working hours per wage earner last year were 1,904 hours, down more than 500 hours from 2001. Korea was followed by Latvia (297 hours), Chile (281 hours), Ireland (242 hours), Japan (210 hours) and Costa Rica (182 hours).

“ Korea’s working hours have rapidly declined over the past two decades, significantly reducing the gap with the OECD average,” according to Ha Sang-woo, head of economic research at the KEF. “Contrary to previous perceptions, the average actual working hours per week for full-time workers are not significantly different from the OECD average. We need to stop framing ourselves as a nation with long work hours and start promoting workplace flexibility.”

For those in full-time employment, which includes wage earners and the self-employed, the country’s average actual working hours per week was 43.2 hours last year, a gap of 1.5 hours with the OECD average of 41.7 hours.

KEF expected that the decline in working hours will continue, driven by institutional changes such as the establishment of a 52-hour workweek system, paid holidays, more substitute holidays, and changes in societal awareness.

Working hours are also expected to be further reduced as the limited recognition of special overtime (8 hours) for workplaces with less than 30 employees is set to expire in 2022.

“Considering various factors, Korea has now reached a level where working hours are not excessively long compared to the OECD average,” Ha said. “While there is an element of inevitability in terms of improving the quality of workers’ lives, I think that this rapid reduction in working hours, without a corresponding increase in productivity, definitely resulted in economic welfare losses.”