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 and measures such as flexible working hours have been implemented to promote a better work-life balance, South Korea still ranks among the top five countries with the longest working hours in the Organization for Economic Cooperation and Development (OECD) as of 2022. 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 risen steadily over the past decade, the gender pay gap still exists. On average, female workers earned about 65 percent of their male equivalents’ income in 2022. The average monthly salary in South Korea was around 4.13 million South Korean won for men and about 2.68 million won for women that year.

In 2023, the annual nominal median household income in South Korea amounted to around 37.57 million South Korean won, showing a steady increase over the past few years. The median household income is an indicator of the income level of the household unit and shows the living standard of the median household.

In 2024, the average monthly salary of regular employees in South Korea's capital, Seoul, amounted to about four million South Korean won, down from about 4.17 million won in the previous year. This put Seoul's salary level significantly above the national average.

In 2023, the average salary of South Korean employees, which includes fixed salary and overtime pay, amounted to around 3.27 million South Korean won, a slight increase from the previous year. Average salary levels in South Korea have risen steadily over the past decade. Working conditions in South Korea The working conditions in South Korea have also generally improved in recent years. For example, the average monthly working hours of employees work has steadily declined. At the same time, more and more wage and salary workers have taken advantage of flexible work arrangements such as flextime or working from home. However, there is still room for improvement in some areas – working hours are still very long compared with the international average, and working from home is not as widespread in small and medium-sized enterprises as in large companies. Working from home Between 2019 and 2023, there was a significant increase in the number of employees working from home, with the figure rising more than sevenfold. This surge was primarily driven by the COVID-19 pandemic. However, as the pandemic gradually subsided and restrictions eased, there has been a decline in the number of individuals working remotely.

Wages in Manufacturing in South Korea increased to 5150250 KRW/Month in the fourth quarter of 2024 from 5076250 KRW/Month in the third quarter of 2024. This dataset provides - South Korea Total Monthly Wages in Manufacturing - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the average monthly salary of a male employee in South Korea was around 4.26 million South Korean won. A female employee earned around 2.78 million won, significantly less than a male employee. This disparity highlights a significant gender pay gap in the country.

South Korea HIES: AS: Monthly Average Income (AMI): Nominal data was reported at 6,969,400.947 KRW in Dec 2024. This records a decrease from the previous number of 7,256,445.774 KRW for Sep 2024. South Korea HIES: AS: Monthly Average Income (AMI): Nominal data is updated quarterly, averaging 6,305,739.633 KRW from Mar 2019 (Median) to Dec 2024, with 24 observations. The data reached an all-time high of 7,288,781.579 KRW in Mar 2023 and a record low of 5,561,546.398 KRW in Dec 2019. South Korea HIES: AS: Monthly Average Income (AMI): Nominal data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H081: 2019 Household Income and Expenditure Survey: 2 or more Members: Salary and Wage Earner HH: Nominal.

In 2022, the average monthly salary of a male employee in South Korea was about 4.14 million South Korean won, with men in their fifties earning the highest average wage of all age groups. This was closely followed by employees in their forties.

South Korea HS: OH: 5 Quintile: Average Monthly Expenditure (AME) data was reported at 5,151,154.000 KRW in 2017. South Korea HS: OH: 5 Quintile: Average Monthly Expenditure (AME) data is updated yearly, averaging 5,151,154.000 KRW from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: OH: 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.H064: Household Income and Expenditure Survey (HS): by Income Quintile: Other Household.

Korea HS: SW: Average Age of Household Head data was reported at 48.790 Year in Jun 2018. This records an increase from the previous number of 48.270 Year for Mar 2018. Korea HS: SW: Average Age of Household Head data is updated quarterly, averaging 42.740 Year from Mar 1990 (Median) to Jun 2018, with 114 observations. The data reached an all-time high of 48.820 Year in Dec 2017 and a record low of 37.110 Year in Mar 1990. Korea HS: SW: 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.H048: Household Income and Expenditure Survey (HS): Urban Salary and Wage Earner: Nominal.

Explore the progression of average salaries for graduates in Korean Traditional Dance from 2020 to 2023 through this detailed chart. It compares these figures against the national average for all graduates, offering a comprehensive look at the earning potential of Korean Traditional Dance relative to other fields. This data is essential for students assessing the return on investment of their education in Korean Traditional Dance, providing a clear picture of financial prospects post-graduation.

Explore the progression of average salaries for graduates in Korean Studies from 2020 to 2023 through this detailed chart. It compares these figures against the national average for all graduates, offering a comprehensive look at the earning potential of Korean Studies relative to other fields. This data is essential for students assessing the return on investment of their education in Korean Studies, providing a clear picture of financial prospects post-graduation.

In the first quarter of 2024, the average monthly income of South Korean households amounted to about 5.12 million South Korean won, up from about 5.02 million South Korean won in the same quarter of the previous year. Following the outbreak of the COVID-19 pandemic, household income dropped 0.7 percent year year-on-year in the second quarter of 2021, but recovered by the end of 2021.

South Korea HIES: AH: 4 Quintile: Average Monthly Income data was reported at 7,514,034.543 KRW in Dec 2024. This records a decrease from the previous number of 7,714,650.684 KRW for Sep 2024. South Korea HIES: AH: 4 Quintile: Average Monthly Income data is updated quarterly, averaging 6,802,876.195 KRW from Mar 2019 (Median) to Dec 2024, with 24 observations. The data reached an all-time high of 7,714,650.684 KRW in Sep 2024 and a record low of 5,975,777.894 KRW in Jun 2019. South Korea HIES: AH: 4 Quintile: Average Monthly Income 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: 2019 Household Income and Expenditure Survey: 2 or more Members: All Households: Nominal: by Quintile.

Explore the progression of average salaries for graduates in Korean Medicine In Oriental Pediatrics from 2020 to 2023 through this detailed chart. It compares these figures against the national average for all graduates, offering a comprehensive look at the earning potential of Korean Medicine In Oriental Pediatrics relative to other fields. This data is essential for students assessing the return on investment of their education in Korean Medicine In Oriental Pediatrics, providing a clear picture of financial prospects post-graduation.

In 2022, wage and salary workers at large enterprises had an average monthly income of around 5.9 million South Korean won, while the income of employees at small and medium-sized enterprises (SMEs) averaged around 2.9 million won. The income level of employees at large companies was more than twice that of employees at SMEs.

In 2022, the average monthly income for employees in South Korea who had worked for more than 20 years was 8.15 million South Korean won. The average income stood at about 3.53 million won.

Explore the progression of average salaries for graduates in Translation And Localization Management; Korean English from 2020 to 2023 through this detailed chart. It compares these figures against the national average for all graduates, offering a comprehensive look at the earning potential of Translation And Localization Management; Korean English relative to other fields. This data is essential for students assessing the return on investment of their education in Translation And Localization Management; Korean English, providing a clear picture of financial prospects post-graduation.

South Korea HIES: UW: 5 Quintile: Average Monthly Income data was reported at 13,193,343.726 KRW in Dec 2024. This records a decrease from the previous number of 14,164,156.397 KRW for Sep 2024. South Korea HIES: UW: 5 Quintile: Average Monthly Income data is updated quarterly, averaging 12,022,247.104 KRW from Mar 2019 (Median) to Dec 2024, with 24 observations. The data reached an all-time high of 15,056,606.838 KRW in Mar 2023 and a record low of 10,238,678.015 KRW in Dec 2019. South Korea HIES: UW: 5 Quintile: Average Monthly Income data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H094: 2019 Household Income and Expenditure Survey: 2 or more Members: Urban Salary and Wage Earner HH: Nominal: by Quintile.

Korea Average: AH: 50~59: Savings data was reported at 96,310.000 KRW th in 2017. This records an increase from the previous number of 93,890.000 KRW th for 2016. Korea Average: AH: 50~59: Savings data is updated yearly, averaging 91,710.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 96,310.000 KRW th in 2017 and a record low of 55,180.000 KRW th in 2010. Korea Average: AH: 50~59: 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).