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.

In 2024, the average salary of South Korean employees, which includes fixed salary and overtime pay, amounted to around **** 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 have steadily declined. At the same time, an increasing number of 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 to 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, the number of employees working from home increased significantly, rising more than sevenfold. This surge was primarily driven by the COVID-19 pandemic. However, as the pandemic gradually subsided and restrictions eased, the number of individuals working remotely has declined.

Wages in South Korea increased to 4830873 KRW/Month in the first quarter of 2025 from 4491305 KRW/Month in the fourth 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 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 2023, the average monthly salary of a male employee in South Korea was around **** million South Korean won. A female employee earned around **** million won, significantly less than a male employee. This disparity highlights a significant gender pay gap in the country.

In 2024, employees in managerial positions in South Korea received the highest salaries of all occupational groups, with an average salary of around ***** million South Korean won per month. Professionals followed in second place with a salary of about **** million won.

Wages in Manufacturing in South Korea increased to 5582097 KRW/Month in the first quarter of 2025 from 5150250 KRW/Month in the fourth 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 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 Wages: Permanent Employees (PE): Regular Wage (RW): Total: All data was reported at 2,879.489 KRW th in Jun 2018. This records an increase from the previous number of 2,869.105 KRW th for May 2018. Korea Wages: Permanent Employees (PE): Regular Wage (RW): Total: All data is updated monthly, averaging 2,511.073 KRW th from Jan 2011 (Median) to Jun 2018, with 90 observations. The data reached an all-time high of 2,919.146 KRW th in Dec 2017 and a record low of 2,183.844 KRW th in Feb 2011. Korea Wages: Permanent Employees (PE): Regular Wage (RW): Total: All data remains active status in CEIC and is reported by Ministry of Labour. The data is categorized under Global Database’s Korea – Table KR.G049: Monthly Average Wages: By Industry and Size of Enterprise: KSIC 9th Revision.

In 2023, the average monthly salary of a male employee in South Korea was about 4.26 million South Korean won, with men in their fifties earning the highest average wage of all age groups at about 5.27 million won. This was closely followed by employees in their forties, who earned an average of 5.23 million won.

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.

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 monthly income for employees in South Korea who had worked for more than 20 years was about **** million South Korean won. The average income of all employees stood at about **** million won that year.

South Korea Wage Rate data was reported at 50,650,145.667 KRW in 2026. This records an increase from the previous number of 48,290,160.483 KRW for 2025. South Korea Wage Rate data is updated yearly, averaging 16,506,363.772 KRW from Dec 1970 (Median) to 2026, with 57 observations. The data reached an all-time high of 50,650,145.667 KRW in 2026 and a record low of 234,586.485 KRW in 1970. South Korea Wage Rate data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.EO: Hours Worked, Unit Labour Cost and Labour Compensation: Forecast: OECD Member: Annual. WRT - Wage rate, total economy

South Korea Minimum Wage: Monthly data was reported at 2,096,270.000 KRW in Dec 2025. This stayed constant from the previous number of 2,096,270.000 KRW for Nov 2025. South Korea Minimum Wage: Monthly data is updated monthly, averaging 1,808,895.000 KRW from Jan 2016 (Median) to Dec 2025, with 120 observations. The data reached an all-time high of 2,096,270.000 KRW in Dec 2025 and a record low of 1,260,270.000 KRW in Dec 2016. South Korea Minimum Wage: Monthly data remains active status in CEIC and is reported by Ministry of Labour. The data is categorized under Global Database’s South Korea – Table KR.G072: Minimum Wage.

Korea Wages: Manufacturing: 1 & Above data was reported at 4,214.534 KRW th in Sep 2018. This records an increase from the previous number of 3,635.022 KRW th for Aug 2018. Korea Wages: Manufacturing: 1 & Above data is updated monthly, averaging 3,318.707 KRW th from Jan 2011 (Median) to Sep 2018, with 93 observations. The data reached an all-time high of 4,775.935 KRW th in Jan 2018 and a record low of 2,572.724 KRW th in May 2011. Korea Wages: Manufacturing: 1 & Above data remains active status in CEIC and is reported by Ministry of Labour. The data is categorized under Global Database’s South Korea – Table KR.G049: Monthly Average Wages: By Industry and Size of Enterprise: KSIC 9th Revision.

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.

Wages: Education: 5 & Above data was reported at 4,591.747 KRW th in Jan 2020. Wages: Education: 5 & Above data is updated monthly, averaging 4,591.747 KRW th from Jan 2020 (Median) to Jan 2020, with 1 observations. Wages: Education: 5 & Above data remains active status in CEIC and is reported by Ministry of Labour. The data is categorized under Global Database’s South Korea – Table KR.G056: Monthly Average Wages: by Industry and Size of Enterprise: KSIC 10th Revision.

In 2025, the minimum wage in South Korea stood at ****** South Korean won per hour. This was a slight increase compared to the previous year. South Korea's minimum wage system The minimum wage system was introduced in South Korea to protect low-wage workers by legally requiring employers to pay wages above a set minimum level. The legal basis for implementing a minimum wage was already established in 1953 with the enactment of the Labor Standards Act. However, the provisions were not enforced at the time due to economic limitations. As South Korea's economy grew stronger, the need for a formal system to eliminate persistent low wages became clear. This led to the enactment of the Minimum Wage Act in 1986, which came into effect in 1988. Raising the minimum wage The issue of raising the minimum wage has consistently been a focal point of public debate, especially during presidential election cycles. In 2017, Moon Jae-in, the then-candidate for the presidency, committed to raising the minimum wage to at least 10,000 South Korean won by 2020. This proposal generated significant controversy and sparked a heated discussion among various political groups. The proposed increase in the minimum wage also faced strong opposition from small and medium-sized enterprises (SMEs). Business owners within this sector expressed concerns about their ability to absorb the costs associated with higher wages.

Korea Wages: PE: OW: Info & Communication: 1 to 299 data was reported at 106.118 KRW th in Jun 2018. This records an increase from the previous number of 101.360 KRW th for May 2018. Korea Wages: PE: OW: Info & Communication: 1 to 299 data is updated monthly, averaging 76.594 KRW th from Jan 2011 (Median) to Jun 2018, with 90 observations. The data reached an all-time high of 109.998 KRW th in Apr 2015 and a record low of 42.290 KRW th in Jan 2011. Korea Wages: PE: OW: Info & Communication: 1 to 299 data remains active status in CEIC and is reported by Ministry of Labour. The data is categorized under Global Database’s Korea – Table KR.G049: Monthly Average Wages: By Industry and Size of Enterprise: KSIC 9th Revision.