South Korea's lowest-paid employees score poor on Big Mac buying power
The Korea Herald/Asia News NetworkThe lowest-paid South Korean could afford to buy fewer than one and a half hamburgers after working for an hour in 2012.
January 15, 2013, 12:18 am TWN
The price of a McDonald's Big Mac stood at US$3.21, leaving South Koreans' purchasing power below that of almost two dozen countries on the list, said Albain, an online part-time job portal, using the Big Mac Index data.
Meanwhile, Koreans received a minimum wage of US$4.32 an hour, it explained.
South Korea's Big Mac buying power ranked 23rd among 44 countries evaluated in the index, with one of lowest monthly incomes among OECD members.
Japan had a Big Mac Index of US$4.09 on a minimum wage of 774 yen (US$8.34), while London had US$4.16 with a wage of US$11.01.