Key information about South Korea Household Income per Capita

• South Korea Annual Household Income per Capita reached 19,208.928 USD in Dec 2024, compared with the previous value of 19,230.954 USD in Dec 2023.
• South Korea Annual Household Income per Capita data is updated yearly, available from Dec 2003 to Dec 2024, with an averaged value of 14,290.376 USD.
• The data reached an all-time high of 19,230.954 USD in Dec 2023 and a record low of 7,685.194 USD in Dec 2003.
• In the latest reports, Retail Sales of South Korea dropped 0.473 % YoY in May 2023.

CEIC calculates Annual Household Income per Capita from quarterly Monthly Household Income multiplied by 3 and quarterly Average Household Size and converts it into USD. Statistics Korea provides Household Income in local currency and Average Household Size. Federal Reserve Board average market exchange rate is used for currency conversions. Household Income excludes single person and farm households. Household Income per Capita prior to 2019 is based on old methodology.

Key information about South Korea GDP Per Capita

• South Korea Gross Domestic Product (GDP) per Capita reached 36,113.000 USD in Dec 2024, compared with 35,569.900 USD in Dec 2023.
• South Korea GDP Per Capita data is updated yearly, available from Dec 1953 to Dec 2024, with an average number of 5,442.300 USD.
• The data reached an all-time high of 37,503.100 USD in Dec 2021 and a record low of 64.230 in Dec 1955.

Related information about South Korea GDP Per Capita data

• In the latest reports, South Korea GDP expanded 1.012 % YoY in Mar 2023.
• South Korea Nominal GDP reached 429.247 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 1.394 % in Mar 2023.
• Gross Savings Rate of South Korea was measured at 29.857 % in Mar 2023.

In 2023, the median household disposable income in South Korea amounted to around ***** million South Korean won, showing a steady increase over the past few years. The median disposable income of South Korean households has steadily increased over the past few years.

This statistic shows the annual income of one-person households in South Korea in 2017, by age group. In 2017, one-person households in their *** earned around ***** million South Korean won on average.

Korea GDP: USD: Gross National Income per Capita: Atlas Method data was reported at 28,380.000 USD in 2017. This records an increase from the previous number of 27,690.000 USD for 2016. Korea GDP: USD: Gross National Income per Capita: Atlas Method data is updated yearly, averaging 5,835.000 USD from Dec 1962 (Median) to 2017, with 56 observations. The data reached an all-time high of 28,380.000 USD in 2017 and a record low of 120.000 USD in 1963. Korea GDP: USD: Gross National Income per Capita: Atlas Method data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Gross Domestic Product: Nominal. GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

Korea GDP: Growth: Adjusted Net National Income per Capita data was reported at 3.030 % in 2016. This records a decrease from the previous number of 5.130 % for 2015. Korea GDP: Growth: Adjusted Net National Income per Capita data is updated yearly, averaging 5.130 % from Dec 1972 (Median) to 2016, with 45 observations. The data reached an all-time high of 15.567 % in 1976 and a record low of -10.202 % in 1998. Korea GDP: Growth: Adjusted Net National Income per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.; ; World Bank staff estimates based on sources and methods in World Bank's 'The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium' (2011).; Weighted average;

Korea GDP: Growth: GNI per Capita data was reported at 2.344 % in 2017. This records a decrease from the previous number of 2.466 % for 2016. Korea GDP: Growth: GNI per Capita data is updated yearly, averaging 6.325 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 12.648 % in 1973 and a record low of -6.955 % in 1998. Korea GDP: Growth: GNI per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Gross Domestic Product: Annual Growth Rate. Annual percentage growth rate of GNI per capita based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GNI per capita is gross national income divided by midyear population. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

Average: AH: 50~59: Disposable Income data was reported at 52,060.000 KRW th in 2017. This records an increase from the previous number of 49,840.000 KRW th for 2016. Average: AH: 50~59: Disposable Income data is updated yearly, averaging 46,155.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 52,060.000 KRW th in 2017 and a record low of 37,240.000 KRW th in 2010. Average: AH: 50~59: Disposable Income data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H078: SHFLC: Household Assets, Liabilities & Income By Age Groups of Households Head (10Age).

South Korea HS: UW: 3 Quintile: Average Age of Household Head data was reported at 45.130 Year in 2017. South Korea HS: UW: 3 Quintile: Average Age of Household Head data is updated yearly, averaging 45.130 Year from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: UW: 3 Quintile: Average Age of Household Head data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H063: Household Income and Expenditure Survey (HS): by Income Quintile: Urban Salary and Wage Earner.

Korea GDP: USD: Adjusted Net National Income per Capita data was reported at 22,172.113 USD in 2016. This records an increase from the previous number of 21,881.353 USD for 2015. Korea GDP: USD: Adjusted Net National Income per Capita data is updated yearly, averaging 7,288.961 USD from Dec 1971 (Median) to 2016, with 46 observations. The data reached an all-time high of 22,446.486 USD in 2014 and a record low of 282.807 USD in 1971. Korea GDP: USD: Adjusted Net National Income per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Gross Domestic Product: Nominal. Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.; ; World Bank staff estimates based on sources and methods in World Bank's 'The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium' (2011).; Weighted Average;

Korea Average: AH: Others: Non-Financial Assets data was reported at 234,680.000 KRW th in 2017. This records an increase from the previous number of 221,370.000 KRW th for 2016. Korea Average: AH: Others: Non-Financial Assets data is updated yearly, averaging 207,220.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 234,680.000 KRW th in 2017 and a record low of 190,300.000 KRW th in 2010. Korea Average: AH: Others: Non-Financial Assets data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H081: SHFLC: Household Assets, Liabilities & Income By The Status of Worker of Household Head.

Korea Average: AH: More Than 60: Savings data was reported at 62,030.000 KRW th in 2017. This records an increase from the previous number of 56,080.000 KRW th for 2016. Korea Average: AH: More Than 60: Savings data is updated yearly, averaging 50,340.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 62,030.000 KRW th in 2017 and a record low of 32,540.000 KRW th in 2010. Korea Average: AH: More Than 60: Savings data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H078: SHFLC: Household Assets, Liabilities & Income By Age Groups of Households Head (10Age).

Korea HS: SW: 2 Quintile: Average Age of Household Head data was reported at 47.770 Year in Sep 2018. This records an increase from the previous number of 47.230 Year for Jun 2018. Korea HS: SW: 2 Quintile: Average Age of Household Head data is updated quarterly, averaging 42.870 Year from Mar 1997 (Median) to Sep 2018, with 87 observations. The data reached an all-time high of 47.770 Year in Sep 2018 and a record low of 37.650 Year in Mar 1997. Korea HS: SW: 2 Quintile: Average Age of Household Head data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H063: Household Income and Expenditure Survey (HS): by Income Quintile: Urban Salary and Wage Earner.

In 2024, the average monthly salary of regular employees in South Korea's capital, Seoul, amounted to about **** million South Korean won, down from about **** million won in the previous year. This put Seoul's salary level significantly above the national average.

Korea HS: UH: 3 Quintile: Average Age of Household Head data was reported at 49.230 Year in Mar 2018. This records an increase from the previous number of 48.110 Year for Dec 2017. Korea HS: UH: 3 Quintile: Average Age of Household Head data is updated quarterly, averaging 43.430 Year from Mar 1990 (Median) to Mar 2018, with 113 observations. The data reached an all-time high of 49.230 Year in Mar 2018 and a record low of 37.250 Year in Sep 1990. Korea HS: UH: 3 Quintile: Average Age of Household Head data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H061: Household Income and Expenditure Survey (HS): by Income Quintile: Urban Household.

Korea HS: SW: 1 Quintile: Average Age of Household Head data was reported at 54.630 Year in Sep 2018. This records an increase from the previous number of 53.390 Year for Jun 2018. Korea HS: SW: 1 Quintile: Average Age of Household Head data is updated quarterly, averaging 46.730 Year from Mar 1997 (Median) to Sep 2018, with 87 observations. The data reached an all-time high of 55.240 Year in Dec 2017 and a record low of 39.200 Year in Mar 1997. Korea HS: SW: 1 Quintile: Average Age of Household Head data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H063: Household Income and Expenditure Survey (HS): by Income Quintile: Urban Salary and Wage Earner.

In 2023, South Korean households' debt-to-gross disposable income ratio was about 186.5 percent. This ratio has been on an overall upward trend over the past few years. Household debt mainly includes loans, primarily home mortgages, and other types of liabilities such as consumer credit (e.g., credit card debt, automobile loans). A ratio above 100 percent indicates that the debt owed is greater than the annual disposable income. According to the source, South Korea had one of the highest household debt-to-income ratios among OECD countries in 2023.

Korea HS: UH: 4 Quintile: Average Age of Household Head data was reported at 48.460 Year in Mar 2018. This records an increase from the previous number of 48.080 Year for Dec 2017. Korea HS: UH: 4 Quintile: Average Age of Household Head data is updated quarterly, averaging 43.520 Year from Mar 1990 (Median) to Mar 2018, with 113 observations. The data reached an all-time high of 48.460 Year in Mar 2018 and a record low of 39.050 Year in Mar 1990. Korea HS: UH: 4 Quintile: Average Age of Household Head data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H061: Household Income and Expenditure Survey (HS): by Income Quintile: Urban Household.

South Korea HS: UW: 1 Quintile: Average Age of Household Head data was reported at 47.820 Year in 2017. South Korea HS: UW: 1 Quintile: Average Age of Household Head data is updated yearly, averaging 47.820 Year from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: UW: 1 Quintile: Average Age of Household Head data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H063: Household Income and Expenditure Survey (HS): by Income Quintile: Urban Salary and Wage Earner.

South Korea HS: UW: 2 Quintile: Average Age of Household Head data was reported at 43.930 Year in 2017. South Korea HS: UW: 2 Quintile: Average Age of Household Head data is updated yearly, averaging 43.930 Year from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: UW: 2 Quintile: Average Age of Household Head data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H063: Household Income and Expenditure Survey (HS): by Income Quintile: Urban Salary and Wage Earner.