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 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.

Key information about South Korea Monthly Earnings

• South Korea Monthly Earnings stood at 3,200 USD in Dec 2024, compared with the previous figure of 2,724 USD in Nov 2024
• South Korea Monthly Earnings data is updated monthly, available from Jan 2008 to Dec 2024, with an average number of 2,747 USD
• The data reached the an all-time high of 3,948 USD in Jan 2022 and a record low of 1,673 USD in Nov 2008

CEIC converts Monthly Earnings into USD. The Ministry of Labour provides Average Monthly Earnings in local currency. Federal Reserve Board average market exchange rate is used for currency conversions. Monthly Earnings exclude Agriculture, Fisheries and Forestry sectors. Monthly Earnings prior to January 2020 cover businesses with 1 or more employees and are based on the 9th Korean Standard Industry Clasification (KSIC). Monthly Earnings prior to January 2011 cover businesses with 5 or more employees and are based on the 9th Korean Standard Industry Clasification (KSIC).


Further information about South Korea Monthly Earnings

• In the latest reports, South Korea Population reached 52 million people in Dec 2024
• Unemployment Rate of South Korea dropped to 3 % in Jan 2025
• The country's Labour Force Participation Rate dropped to 63 % in Jan 2025

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.

In 2023, employees in managerial positions in South Korea received the highest salaries of all occupational groups, with an average salary of around 10.4 million South Korean won per month. Professionals followed in second place with a salary of about four million won.

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.

Wages in South Korea decreased to 4491305 KRW/Month in the fourth quarter of 2024 from 4517147 KRW/Month in the third quarter of 2024. This dataset provides - South Korea Total Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 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.

Minimum Wages in South Korea increased to 10030 KRW/Hour in 2025 from 9860 KRW/Hour in 2024. This dataset provides - South Korea Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news.

South Korea HS: AS: 4 Quintile: Average Monthly Expenditure (AME) data was reported at 4,464,906.000 KRW in 2017. South Korea HS: AS: 4 Quintile: Average Monthly Expenditure (AME) data is updated yearly, averaging 4,464,906.000 KRW from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: AS: 4 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.H062: Household Income and Expenditure Survey (HS): by Income Quintile: All Salary and Wage Earner.

South Korea HS: UW: 4 Quintile: Average Age of Household Head data was reported at 46.090 Year in 2017. South Korea HS: UW: 4 Quintile: Average Age of Household Head data is updated yearly, averaging 46.090 Year from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: UW: 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.H063: Household Income and Expenditure Survey (HS): by Income Quintile: Urban Salary and Wage Earner.

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 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.

South Korea HS: AS: 3 Quintile: Average Monthly Expenditure (AME) data was reported at 3,498,258.000 KRW in 2017. South Korea HS: AS: 3 Quintile: Average Monthly Expenditure (AME) data is updated yearly, averaging 3,498,258.000 KRW from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: AS: 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.H062: Household Income and Expenditure Survey (HS): by Income Quintile: All Salary and Wage Earner.

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.

Korea HS: AS: 1 Quintile: Average Age of Household Head data was reported at 54.400 Year in Sep 2018. This records an increase from the previous number of 53.800 Year for Jun 2018. Korea HS: AS: 1 Quintile: Average Age of Household Head data is updated quarterly, averaging 48.880 Year from Mar 2003 (Median) to Sep 2018, with 63 observations. The data reached an all-time high of 55.360 Year in Dec 2017 and a record low of 43.890 Year in Jun 2003. Korea HS: AS: 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.H062: Household Income and Expenditure Survey (HS): by Income Quintile: All Salary and Wage Earner.

In 2022, the average monthly salary of a female employee in South Korea was about 2.71 million South Korean won. Women in their thirties and forties earned the highest on average, at around 3.35 million won. The average salary of South Korean women was far below that of men.

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.