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 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.

South Korea HIES: OU: 1 Quintile: Average Age of Household Head data was reported at 60.448 Year in 2024. This records a decrease from the previous number of 61.386 Year for 2023. South Korea HIES: OU: 1 Quintile: Average Age of Household Head data is updated yearly, averaging 61.373 Year from Dec 2019 (Median) to 2024, with 6 observations. The data reached an all-time high of 62.056 Year in 2022 and a record low of 60.448 Year in 2024. South Korea HIES: OU: 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.H074: 2019 Household Income and Expenditure Survey: 1 or more Members: Other Urban Households: Nominal: by Quintile.

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.

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.

HS: UW: 2 Quintile: Average Age of Household Head data was reported at 43.930 Year in 2017. 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. 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.

HS: AH: Average Monthly Expenditure (AME) data was reported at 3,326,764.000 KRW in 2018. This records an increase from the previous number of 3,316,143.000 KRW for 2017. HS: AH: Average Monthly Expenditure (AME) data is updated yearly, averaging 3,321,453.500 KRW from Dec 2017 (Median) to 2018, with 2 observations. The data reached an all-time high of 3,326,764.000 KRW in 2018 and a record low of 3,316,143.000 KRW in 2017. HS: AH: Average Monthly Expenditure (AME) data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H036: Household Income and Expenditure Survey: All Household: Nominal.

In the fourth quarter of 2024, the wealthiest ** percent of households in South Korea reported a monthly income of approximately ***** million South Korean won. The wealthiest earned over ten times more than the poorest in South Korea per month.

In 2023, the average annual income of farm households in South Korea stood at around **** million South Korean won. This was an increase from the previous year.

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.

Korea HS: AS: 4 Quintile: Average Age of Household Head data was reported at 47.610 Year in Sep 2018. This records an increase from the previous number of 47.230 Year for Jun 2018. Korea HS: AS: 4 Quintile: Average Age of Household Head data is updated quarterly, averaging 43.830 Year from Mar 2003 (Median) to Sep 2018, with 63 observations. The data reached an all-time high of 47.610 Year in Sep 2018 and a record low of 40.210 Year in Mar 2003. Korea HS: AS: 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 South Korea – Table KR.H062: Household Income and Expenditure Survey (HS): by Income Quintile: All Salary and Wage Earner.

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.

In 2024, the average income of farm households in South Korea amounted to around **** million South Korean won. It was a slight decrease compared to the previous year.

South Korea HS: AH: 3 Quintile: Average Monthly Expenditure (AME) data was reported at 3,026,058.000 KRW in 2017. South Korea HS: AH: 3 Quintile: Average Monthly Expenditure (AME) data is updated yearly, averaging 3,026,058.000 KRW from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: AH: 3 Quintile: Average Monthly Expenditure (AME) data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H060: Household Income and Expenditure Survey (HS): by Income Quintile: All Household.

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.

South Korea HS: UW: 5 Quintile: Average Monthly Expenditure (AME) data was reported at 6,651,179.000 KRW in 2017. South Korea HS: UW: 5 Quintile: Average Monthly Expenditure (AME) data is updated yearly, averaging 6,651,179.000 KRW from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: UW: 5 Quintile: Average Monthly Expenditure (AME) 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.

According to a survey conducted in South Korea in 2024, households with a total income of six million South Korean won or more spent the most when ordering food delivery, with an average of around ****** South Korean won per instance. Spending generally decreased by household income. Overall, the total average amount spent on delivery food stood at about ****** won that year.

According to a survey conducted in South Korea in 2024, households with a monthly income of six million South Korean won or more reported spending an average of around ****** won when dining out together. Average spending increased alongside household income. Overall, households spent about ****** won each time when dining out.

In 2023, the average annual wage in South Korea fell to 47,715 U.S. dollars after adjusting for purchasing power parity (PPP). The average salary in South Korea showed a general trend of positive growth within the given period. The monthly wage was projected to reach over 5,400 U.S. dollars in 2040, the highest value among the surveyed countries. Work-life balance South Korea has some of the longest working hours in the world. Although working hours in the country have decreased over the past decade, measures such as flexible working hours have been implemented to promote a better work-life balance. Nevertheless, South Korea still ranks among the top five countries with the longest working hours in the Organization for Economic Cooperation and Development (OECD). Many South Koreans tend to prefer working for a company that offers a good work-life balance rather than a company that offers a higher salary. This preference is especially strong among parents. Women in the job market While the employment rate of South Korean women has increased steadily over the past decade, the gender pay gap persists. On average, female workers earned about 65 percent of their male counterparts’ income. The average monthly salary in South Korea was around 4.26 million South Korean won for men and about 2.78 million won for women that year.