South Korea’s single-income households earning minimum wage with two children must work at least 62 hours a week to live above the poverty line, a new research report showed. This means whoever is in charge of the household finances must work more than 12 hours daily, if he or she is allowed to work five days a week.



The report, published by the Korea Institute for Health and Social Affairs, showed that such long work hours make it impossible for income earners of such households to balance work and life. In most countries, those who make less than 50 percent of the national median income are considered as living below poverty line.



Korea has one of the lowest minimum wages among the Organization for Economic Cooperation and Development countries -- currently standing at 5,580 won ($4.86) an hour . In 2013, Korea’s minimum wage only accounted for 44 percent of the national median wage.



South Korea belongs to the most corrupt 20 percent of the 30 advanced countries, with a poverty rate of 14.6 percent. (Yonhap)