
South Korea came in 14th among the 34 OECD member countries in terms of average annual wages based on purchasing power parity, data showed Wednesday. According to the Taxing Wages report by the Organization of Economic Cooperation and Development, the average wage of a Korean worker in a one-person household in 2014, after applying purchasing power parity, was $46,664. This figure is lower than that of Japan (No. 13, $46,884) but higher than that of Sweden (No. 15, $46,379). The OECD average was $40,770. Switzerland ranked first with $66,506, while Mexico placed last with $12,373. Meanwhile, a Korean worker’s PPP-weighted net income after taxes was $40,421 in 2014, ranking No. 6 in the OECD due to Korea’s relatively low income taxes. Korea’s tax wedge was also recorded at 21.5 percent, ranking 30th in OECD countries.
1. come in ~ = (경주에서 몇 위로) ~로 들어오다
2. in terms of ~ = ~면에서[~에 관하여]
3. place = (경마・경주에서 참가자를) ~위로 발표하다[(결승선에) 들어오게 하다], 입상시키다; 입상하다