Labor share of gdp in South Korea
South Korea: Labor share of gdp was 59.7 in 2020. ▬ Flat
Latest (2020)
59.7
Change on year
down 0.5%
World rank
19th
of 187 countries
All-time high
60
in 2019
All-time low
55.7
in 2010
Years of data
17
2004–2020
Labor share of gdp in South Korea, 2004–2020
Source: Our World in Data.
Analysis
In 2020, labor share of gdp in South Korea stood at 59.7.
That represents a change of down 0.5% on the previous year and up 7.2% over ten years.
Over the whole period, labor share of gdp in South Korea peaked at 60 in 2019 and was at its lowest, 55.7, in 2010.
South Korea ranks 19th of 187 countries on this measure, in the top 10%.
Labor share of gdp in South Korea, year by year
| Year | Value | Change |
|---|---|---|
| 2004 | 58.8 | — |
| 2005 | 59.5 | +1.2% |
| 2006 | 59.8 | +0.5% |
| 2007 | 58.9 | -1.5% |
| 2008 | 58.5 | -0.7% |
| 2009 | 57.8 | -1.2% |
| 2010 | 55.7 | -3.6% |
| 2011 | 56.4 | +1.3% |
| 2012 | 57 | +1.1% |
| 2013 | 57.2 | +0.4% |
| 2014 | 57.8 | +1.0% |
| 2015 | 57.9 | +0.2% |
| 2016 | 57.6 | -0.5% |
| 2017 | 57.3 | -0.5% |
| 2018 | 58.4 | +1.9% |
| 2019 | 60 | +2.7% |
| 2020 | 59.7 | -0.5% |
South Korea compared with similar countries
- South Korea's 59.7 is above the median for high income countries, which is 54.5, 1.1× the median. (62 countries reporting)
- South Korea's 59.7 is above the median for East Asia & Pacific, which is 46.5, 1.3× the median. (29 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 58.88 | 57.8 | 59.8 | 6 |
| 2010s | 57.53 | 55.7 | 60 | 10 |
| 2020s | 59.7 | 59.7 | 59.7 | 1 |
Countries ranked near South Korea
More work & labour data for South Korea
- Persons outside the labour force (ILO modelled estimates) 16,840 (2027)
- Labour force participation rate (ILO modelled estimates) 63.91 (2027)
- Labour force (ILO modelled estimates) 29,824 (2027)
- Unemployment rate (ILO modelled estimates) 2.96 (2027)
- Labour dependency ratio 0.78 (2027)
- Output per worker, GDP constant 2021 international $ at PPP 97,052 (2027)
- Output per worker, GDP constant 2015 US $ 65,686 (2027)
- Employment-to-population ratio (ILO modelled estimates) 62.02 (2027)
- Persons outside the labour force (ILO modelled estimates) (15+) 0.9719 % change on previous year (2027)
- Labour force (ILO modelled estimates) (15+), annual growth rate -0.1065 % change on previous year (2027)
Frequently asked questions
- What is labor share of gdp in South Korea?
- Labor share of gdp in South Korea was 59.7 in 2020, according to Our World in Data.
- What is the highest labor share of gdp recorded in South Korea?
- The highest recorded value was 60 in 2019.
- What is the lowest labor share of gdp recorded in South Korea?
- The lowest recorded value was 55.7 in 2010.
- How does South Korea rank for labor share of gdp?
- South Korea ranks 19th out of 187 countries with data for 2020.
- Is labor share of gdp rising or falling in South Korea?
- Over the last ten years it is up 7.2%. The long-run trend across the full record is flat.
- Where does this South Korea data come from?
- The figures come from Our World in Data, published as part of Labor share of gdp. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 17 observations, free to reuse under CC BY 4.0 (Our World in Data).