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Korea's labor productivity rises for fourth straight quarter

Written: 2003-01-21 00:00:00Updated: 0000-00-00 00:00:00

The Ministry of Commerce, Industry and Energy (MOCIE) said Tuesday Korea's labor productivity index went up 11.9 percent for the fourth straight quarter during the third quarter of last year. The MOCIE and the Korea Productivity Center (KPC) said the country has enjoyed double-digit labor productivity growth for the 12 months since October 2001. Labor productivity for the fourth quarter of 2001 stood at 10.3 percent, compared to the same period the year before, while it climbed to 11.9 percent in the first quarter of 2002, and 10.8 percent in the second quarter. The ministry said the third-quarter increase was helped by the increase of industrial productivity and decrease of workforce input. The figures showed that except for transportation equipment and oil and cokes refining, the productivity of 19 industrial sectors has improved.

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