‘Real wages’ considering inflation down 1.3% since the start of the Yoon Suk-yeol administration.

Real wages: 359 million won in 2022 → 354 million won in the first half of 2024
Under the Moon Jae-in government, up by 9.3%…from 328 million won in 2017 to 359 million won in 2022
“The irresponsible Yoon regime regarding people’s livelihoods, needs to now step up to revive the economy for the people.”,

According to the Korea Agro-Fisheries & Food Trade Corporation (aT), prices of major vegetables such as spinach and radish have risen by 40% compared to last year, and the retail price of a reference-size chicken has increased by 41.9% to 1,797 won. On the morning of the 6th, apples are displayed at a shop in the Gyeongdong Market in Dongdaemun-gu, Seoul. Reporter Im Se-jun,
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, ‘[Herald Economy=Reporter Kim Yong-hoon] After the inauguration of the Yoon Suk-yeol government, it was revealed that real wages had decreased by 1.3%. In contrast, during the previous government’s 5 years, real wages increased by 9.3%. Despite a 2% increase in consumer prices recorded in the 5 months since April, people do not feel the impact.’,
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, ‘According to the results of the employment workforce survey received by Rep. Kang Deok-gu of the Environment and Labor Committee in the National Assembly on the 23rd, the average monthly real wage per worker in 2022 was 3.592 million won, but in the first half of 2024, it was only 3.543 million won. Real wages refer to the actual earnings of workers reflecting the consumer price index, as confirmed through the Ministry of Employment and Labor’s business workforce survey.’,
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[Provided by Rep. Kang Deok-gu’s office],
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, ‘According to the Employment Ministry’s business workforce survey, the nominal wage in 2022 when President Yoon took office was 3.869 million won, but the real wage, reflecting the consumer price index, was 3.592 million won. In 2023, the real wage was 3.554 million won, and in the first half of 2024, it dropped to 3.543 million won. The real wage in the first half of 2024 decreased by about 1.36% compared to 2022.’,
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, ‘Even on a monthly basis, real wages during President Yoon’s term remained stagnant. In June 2022, the real wage was 3.385 million won, but by June 2023, it had dropped to 3.362 million won, and by June 2024, it was 3.392 million won, showing little difference from two years prior.’,
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, ‘In contrast, during the Moon Jae-in administration, real wages increased by about 9.3%. In 2017, the real wage was 3.284 million won, which rose to 3.592 million won in 2022, an increase of approximately 9.3%. On a monthly basis, the real wage in June was 3.194 million won in 2017, 3.422 million won in June 2021, and 3.385 million won in June 2022, showing annual growth.’,
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, ‘Rep. Kang Deok-gu stated, “The reality of the incompetent and irresponsible economic management of the Yoon Suk-yeol government is revealed through the decline in real wages,” emphasizing that “the Yoon administration must now devise measures to revive the economy for the people.”‘
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