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.

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 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 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.

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 about **** million South Korean won, with men in their fifties earning the highest average wage of all age groups at about **** million won. This was closely followed by employees in their forties, who earned an average of **** million won.

South Korea Proportion of People Living Below 50 Percent Of Median Income: % data was reported at 12.200 % in 2016. This records a decrease from the previous number of 12.500 % for 2014. South Korea Proportion of People Living Below 50 Percent Of Median Income: % data is updated yearly, averaging 12.750 % from Dec 2006 (Median) to 2016, with 6 observations. The data reached an all-time high of 13.000 % in 2012 and a record low of 12.200 % in 2016. South Korea Proportion of People Living Below 50 Percent Of Median Income: % data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Social: Poverty and Inequality. The percentage of people in the population who live in households whose per capita income or consumption is below half of the median income or consumption per capita. The median is measured at 2017 Purchasing Power Parity (PPP) using the Poverty and Inequality Platform (http://www.pip.worldbank.org). For some countries, medians are not reported due to grouped and/or confidential data. The reference year is the year in which the underlying household survey data was collected. In cases for which the data collection period bridged two calendar years, the first year in which data were collected is reported.;World Bank, Poverty and Inequality Platform. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Data for high-income economies are mostly from the Luxembourg Income Study database. For more information and methodology, please see http://pip.worldbank.org.;;The World Bank’s internationally comparable poverty monitoring database now draws on income or detailed consumption data from more than 2000 household surveys across 169 countries. See the Poverty and Inequality Platform (PIP) for details (www.pip.worldbank.org).

The Gross Domestic Product per capita in South Korea was last recorded at 34121.02 US dollars in 2023. The GDP per Capita in South Korea is equivalent to 270 percent of the world's average. This dataset provides - South Korea GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

South Korea HIES: UH: Average Monthly Income (AMI): Nominal data was reported at 6,443,976.509 KRW in Dec 2024. This records a decrease from the previous number of 6,694,816.761 KRW for Sep 2024. South Korea HIES: UH: Average Monthly Income (AMI): Nominal data is updated quarterly, averaging 5,817,957.076 KRW from Mar 2019 (Median) to Dec 2024, with 24 observations. The data reached an all-time high of 6,694,816.761 KRW in Sep 2024 and a record low of 5,110,598.266 KRW in Jun 2019. South Korea HIES: UH: Average Monthly 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.H089: 2019 Household Income and Expenditure Survey: 2 or more Members: Urban Households: Nominal.

In 2023, South Korea's per capita disposable income amounted to around ***** million South Korean won, up from about ***** million won in the previous year. Per capita net disposable income in South Korea has risen steadily in recent years.

Korea GDP: USD: Gross National Income per Capita: Atlas Method data was reported at 28,380.000 USD in 2017. This records an increase from the previous number of 27,690.000 USD for 2016. Korea GDP: USD: Gross National Income per Capita: Atlas Method data is updated yearly, averaging 5,835.000 USD from Dec 1962 (Median) to 2017, with 56 observations. The data reached an all-time high of 28,380.000 USD in 2017 and a record low of 120.000 USD in 1963. Korea GDP: USD: Gross National Income per Capita: Atlas Method data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Gross Domestic Product: Nominal. GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

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.

The Gross Domestic Product per capita in South Korea was last recorded at 49995.49 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in South Korea, when adjusted by Purchasing Power Parity is equivalent to 281 percent of the world's average. This dataset provides the latest reported value for - South Korea GDP per capita PPP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

Average: AH: 50~59: Disposable Income data was reported at 52,060.000 KRW th in 2017. This records an increase from the previous number of 49,840.000 KRW th for 2016. Average: AH: 50~59: Disposable Income data is updated yearly, averaging 46,155.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 52,060.000 KRW th in 2017 and a record low of 37,240.000 KRW th in 2010. Average: AH: 50~59: Disposable Income 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).

Annualized average growth rate in per capita real survey mean consumption or income, total population (%) in South Korea was reported at 3.71 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Annualized average growth rate in per capita real survey mean consumption or income, total population - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Korea Median: AH: Male: Regular Income data was reported at 48,000.000 KRW in 2017. This records an increase from the previous number of 46,840.000 KRW for 2016. Korea Median: AH: Male: Regular Income data is updated yearly, averaging 43,040.000 KRW from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 48,000.000 KRW in 2017 and a record low of 35,000.000 KRW in 2010. Korea Median: AH: Male: Regular Income data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H077: SHFLC: Household Assets, Liabilities & Income By The Gender of Household Head.

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.

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).

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.