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.

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.

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.

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.

Average: AH: 30~39: Disposable Income data was reported at 44,020.000 KRW th in 2017. This records an increase from the previous number of 42,380.000 KRW th for 2016. Average: AH: 30~39: Disposable Income data is updated yearly, averaging 40,100.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 44,020.000 KRW th in 2017 and a record low of 33,830.000 KRW th in 2010. Average: AH: 30~39: Disposable 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: SHFLC: Household Assets, Liabilities & Income By Age Groups of Households Head (10Age).

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.

Korea Gini's Coefficient Index: Urban Households: Disposable Income data was reported at 0.278 NA in 2016. This records an increase from the previous number of 0.269 NA for 2015. Korea Gini's Coefficient Index: Urban Households: Disposable Income data is updated yearly, averaging 0.277 NA from Dec 1990 (Median) to 2016, with 27 observations. The data reached an all-time high of 0.295 NA in 2009 and a record low of 0.245 NA in 1992. Korea Gini's Coefficient Index: Urban Households: Disposable 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.H066: Household Income and Expenditure Survey (HS): Income Distribution.

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.

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.

Korea Average: AH: More Than 60: Savings data was reported at 62,030.000 KRW th in 2017. This records an increase from the previous number of 56,080.000 KRW th for 2016. Korea Average: AH: More Than 60: Savings data is updated yearly, averaging 50,340.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 62,030.000 KRW th in 2017 and a record low of 32,540.000 KRW th in 2010. Korea Average: AH: More Than 60: 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).

South Korea HS: UW: 1 Quintile: Persons per Household data was reported at 1.650 Person in 2017. South Korea HS: UW: 1 Quintile: Persons per Household data is updated yearly, averaging 1.650 Person from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: UW: 1 Quintile: Persons per Household 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 monthly income of six million South Korean won or more spent around ******* won monthly to eat out together. It further showed that the higher the household income, the more was spent on eating out together on average. Overall, the total average of monthly household spending on dining out that year stood at about ******* won.

Korea Gini's Coefficient Index: Urban Households: Market Income data was reported at 0.317 NA in 2016. This records an increase from the previous number of 0.305 NA for 2015. Korea Gini's Coefficient Index: Urban Households: Market Income data is updated yearly, averaging 0.293 NA from Dec 1990 (Median) to 2016, with 27 observations. The data reached an all-time high of 0.320 NA in 2009 and a record low of 0.254 NA in 1992. Korea Gini's Coefficient Index: Urban Households: Market 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.H066: Household Income and Expenditure Survey (HS): Income Distribution.

Korea HS: AS: 1 Quintile: Income: data was reported at 2,011,483.000 KRW in Sep 2018. This records an increase from the previous number of 1,994,563.000 KRW for Jun 2018. Korea HS: AS: 1 Quintile: Income: data is updated quarterly, averaging 1,602,608.000 KRW from Mar 2003 (Median) to Sep 2018, with 63 observations. The data reached an all-time high of 2,021,229.000 KRW in Mar 2015 and a record low of 1,102,397.000 KRW in Jun 2003. Korea HS: AS: 1 Quintile: 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.H062: Household Income and Expenditure Survey (HS): by Income Quintile: All 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, spending on takeout or food delivery hardly differed by household income. Those with household incomes between five million and six million South Korean won had the highest average per instance, at around ****** won. Other income brackets reported similar figures. The total average expenditure that year amounted to about ****** won per instance.

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 2023, the average income of vegetable farms in South Korea amounted to around **** million South Korean won. That year, the average income of farm households in the country was about ***** million South Korean won.