Companies spend 6.13 million won per month to hire one worker

Last year, companies spent 6.13 million won per month hiring one worker.

According to last year's corporate labor cost survey released by the Ministry of Employment and Labor, the average monthly labor cost per worker for companies with 10 or more employees was 6.13 million won, up 1.9% from a year ago.

Labor costs are the costs that companies actually bear while hiring workers, adding direct labor costs such as wages, bonuses, and incentives to indirect labor costs such as retirement benefits, four major insurance companies' share, welfare, and education.

Last year, direct labor costs increased by 2.7% from a year ago, while indirect labor costs decreased by 1.1%.

By industry, single-person labor costs in the financial and insurance industries were the highest at 10.489 million won per month, followed by electricity and gas supply, manufacturing, and information and communication industries.

By company size, the average labor cost of companies with 300 or more employees was 7,532,000 won per person, and 5,066,000 won for companies with less than 300 employees.