Among the 100 largest Korean and Japanese companies in terms of market capitalization, Kakao pays the most to employees, and Honda employees work for their company for the largest number of years.
Market research firm CEO Score announced on Dec. 23 that Kakao employees’ average annual salary is 174 million won (US$148,542) and is 22 million won more than that of Keyence, the number one Japanese company in terms of this index. In the meantime, Honda employees recorded a length of service of 23.5 years, 4.8 years longer than that of those working for the Hyundai Motor Group.
As of the end of 2014, Korean workers’ average length of service was 9.2 years, whereas that of their Japanese counterparts was 15.8 years. The average pay was 66.8 million won for the former and 81.7 million won for the latter. In particular, Korean enterprises in the automobile, shipbuilding, machinery, equipment and steel industries, where Korean and Japanese companies are engaged in intense competition, posted lengths of service shorter by two to five years along with more salaries, which means that Korea could fall behind Japan in terms of cost competitiveness in these fields.
In the automobile sector, where Korean workers receive much more than Japanese, Korean workers’ average pay amounted to 83.3 million won, approximately 15 million won more than that of the others.