According to the Taxing Wages report by the Organization of Economic Cooperation and Development, the average wage of a Korean worker in a one-person household in 2014, after applying purchasing power parity, was $46,664.
This figure is lower than that of Japan (No. 13, $46,884) but higher than that of Sweden (No. 15, $46,379). The OECD average was $40,770.
Switzerland ranked first with $66,506, while Mexico placed last with $12,373.
Meanwhile, a Korean worker’s PPP-weighted net income after taxes was $40,421 in 2014, ranking No. 6 in the OECD due to Korea’s relatively low income taxes.
Korea’s tax wedge was also recorded at 21.5 percent, ranking 30th in OECD countries.
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Articles by Korea Herald