Seniority Pay, Turnover and Job Training in Korea

Byung-You Cheon
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Byung-You Cheon: Hyundai Research Institute

Korean Economic Review, 1998, vol. 14, 59-78

Abstract: The Korean blue-collar workers have seniority-based pay stranger than the Japanese one The seniority pay, however, is not the result of on-the-,jab train-ing and it does not function as incentive to reduce turnover in Korean labor market for blue-collar workers: The analysis in this paper shows that high re-turns to tenure have very little to do with intro- firm training and do not incur low level of turnover in Korea Contrary to conventional theories, high seniority pay, low turnover and high investment in training undertaken by the firm do not reinforce each other in Korea.

Keywords: Seniority Pay; Tenure; Turnover; On-the- job Training; Human Capital (search for similar items in EconPapers)
JEL-codes: J41 (search for similar items in EconPapers)
Date: 1998
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