Wage, income account shortfalls hit record high
Feb 3, 2013
South Korea’s wage and income account deficit hit a record high in 2012 as local companies paid more for foreign workers here than income brought in by Korean laborers working overseas, data showed Sunday.According to the data by the Bank of Korea, income earned by foreign workers in Korea came to about $1.15 billion last year, down 2.8 percent from a year earlier. Income earned by Korean workers abroad shrank 13.8 percent on-year to $647.1 million.As a result, the country’s wage and income acco