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.

In 2023, the average number of household members in South Korea was about ***. The household size in South Korea has steadily declined over the past few decades.

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.

In the fourth quarter of 2024, the average monthly income of South Korean households amounted to about **** million South Korean won, up from about **** million South Korean won in the same quarter of the previous year. Following the outbreak of the COVID-19 pandemic, household income dropped *** percent year-on-year in the second quarter of 2021, but recovered by the end of the year.

Korea HS: OH: 2 Quintile: Average Age of Household Head data was reported at 61.750 Year in Sep 2018. This records a decrease from the previous number of 62.730 Year for Jun 2018. Korea HS: OH: 2 Quintile: Average Age of Household Head data is updated quarterly, averaging 55.120 Year from Mar 2003 (Median) to Sep 2018, with 63 observations. The data reached an all-time high of 62.730 Year in Jun 2018 and a record low of 47.330 Year in Sep 2003. Korea HS: OH: 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.H064: Household Income and Expenditure Survey (HS): by Income Quintile: Other Household.

In 2023, single-person households made up approximately **** percent of total households in South Korea. Two-person households accounted for about **** percent. The average household size in South Korea that year was *** people.

Korea Average: AH: All Household: Savings data was reported at 72,830,000.000 KRW in 2017. This records an increase from the previous number of 69,420,000.000 KRW for 2016. Korea Average: AH: All Household: Savings data is updated yearly, averaging 65,700,000.000 KRW from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 72,830,000.000 KRW in 2017 and a record low of 41,430,000.000 KRW in 2010. Korea Average: AH: All Household: Savings data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H084: SHFLC: Household Assets, Liabilities & Income By Income Quintiles.

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: 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.

In 2024, the median household wealth in Seoul, South Korea amounted to around *** million South Korean won, followed by Sejong with about *** million South Korean won. The average wealth of households was highest in the capital Seoul and lowest in Chungnam.

Korea HS: AH: 1 Quintile: Average Age of Household Head data was reported at 62.500 Year in Jun 2018. This records a decrease from the previous number of 63.390 Year for Mar 2018. Korea HS: AH: 1 Quintile: Average Age of Household Head data is updated quarterly, averaging 56.555 Year from Mar 2003 (Median) to Jun 2018, with 62 observations. The data reached an all-time high of 63.390 Year in Mar 2018 and a record low of 50.960 Year in Sep 2003. Korea HS: AH: 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 Korea – Table KR.H060: Household Income and Expenditure Survey (HS): by Income Quintile: All Household.

Korea Average: AH: 30~39: Net Worth data was reported at 217,690.000 KRW th in 2017. This records an increase from the previous number of 198,530.000 KRW th for 2016. Korea Average: AH: 30~39: Net Worth data is updated yearly, averaging 181,560.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 217,690.000 KRW th in 2017 and a record low of 157,160.000 KRW th in 2010. Korea Average: AH: 30~39: Net Worth data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H078: SHFLC: Household Assets, Liabilities & Income By Age Groups of Households Head (10Age).

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 Average: AH: Less Than 30: Savings data was reported at 19,880.000 KRW th in 2017. This records a decrease from the previous number of 20,910.000 KRW th for 2016. Korea Average: AH: Less Than 30: Savings data is updated yearly, averaging 20,395.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 23,520.000 KRW th in 2015 and a record low of 15,890.000 KRW th in 2011. Korea Average: AH: Less Than 30: 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: UH: Average Age of Household Head data was reported at 52.590 Year in Jun 2018. This records an increase from the previous number of 52.430 Year for Mar 2018. Korea HS: UH: Average Age of Household Head data is updated quarterly, averaging 45.210 Year from Mar 1990 (Median) to Jun 2018, with 114 observations. The data reached an all-time high of 52.590 Year in Jun 2018 and a record low of 38.660 Year in Jun 1990. Korea HS: UH: 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.H040: Household Income and Expenditure Survey (HS): Urban Household: Nominal.

According to a survey conducted in South Korea in 2024, households with a monthly income of *********** South Korean won and more spent an average of around ***** thousand South Korean won per purchase in a grocery store. Lower monthly income correlated with lower average spending on groceries per purchase.

In the fourth quarter of 2024, a South Korean household spent an average of about **** million South Korean won per year, up from about **** million South Korean won in the same quarter of 2023. Real household spending in South Korea declined following the outbreak of the ******** pandemic, but has started to increase again in the recent year.

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.

In 2024, households in South Korea with a monthly income of eight million South Korean won or more spent an average of ******* won per month on their child's private education. The average monthly expenditure per student in South Korea for private education was approximately ******* won that year.

In 2024, the average wealth in households with five or more persons in South Korea was around ***** million South Korean won. The average wealth of one-person households amounted to about ***** million South Korean won that year.