The wage gap between small businesses and conglomerates is widening, indicating increased polarization between the two groups, according to a report released by the Korea Federation of Small and Medium Business on Wednesday.
The number of SMEs reached 3.54 million, 99.9 percent of all businesses in Korea, in 2014, a 15.5 percent increase from 2009, during which there were about 3.06 million firms.
SMEs employed 14.02 million people in 2014, about 87.9 percent of the total workforce of 15.96 million people.
However, their employees earned 60.6 percent of what those at conglomerates received in 2015, a decrease from 61.4 percent in 2009.
SME employees on average earned an average 2.9 million won ($2,500) a month while conglomerate employees earned 4.8 million won on average in 2015.