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Korea leads in manufacturing, lags in quality of life

Oct. 26, 2014 - 21:14 By Korea Herald
South Korea ranks among global leaders in such areas as manufacturing, research and development and financial wealth, but is middle of the pack in terms of quality of life and labor conditions, a report by an international traders association showed Sunday.

The findings based on statistical data gathered from around 170 sources, covering such areas as the economy, trade and social development, indicated that the country’s strength lay in manufacturing, the Korea International Trade Association said.

As of last year, South Korea was the No. 1 manufacturer of mobile phones in the world, the second-largest producer of computer chips and ships, and ranked fifth and sixth, respectively, in automobile and steel output.

On the other hand, the country ranked 41st for quality of life, while its per capita annual working hours stood at 2,163, placing it second after Mexico. The United States ranked 19th in quality of life with Japan coming in at 20th.

The country stood at 25th place for participation of women in the workforce, while its birthrate ranked 168th among 171 countries. (Yonhap)