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.

HS: OH: 5 Quintile: Average Age of Household Head data was reported at 52.930 Year in Mar 2018. This records an increase from the previous number of 51.880 Year for Dec 2017. HS: OH: 5 Quintile: Average Age of Household Head data is updated quarterly, averaging 50.330 Year from Mar 2003 (Median) to Mar 2018, with 61 observations. The data reached an all-time high of 52.930 Year in Mar 2018 and a record low of 47.130 Year in Sep 2003. HS: OH: 5 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 Korea – Table KR.H064: Household Income and Expenditure Survey (HS): by Income Quintile: Other Household.

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 30s earned around 34.02 million South Korean won on average.

HS: UW: 1 Quintile: Average Age of Household Head data was reported at 47.820 Year in 2017. HS: UW: 1 Quintile: Average Age of Household Head data is updated yearly, averaging 47.820 Year from Dec 2017 (Median) to 2017, with 1 observations. HS: UW: 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.H063: Household Income and Expenditure Survey (HS): by Income Quintile: Urban Salary and Wage Earner.

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.

South Korea HS: UW: 3 Quintile: Average Age of Household Head data was reported at 45.130 Year in 2017. South Korea HS: UW: 3 Quintile: Average Age of Household Head data is updated yearly, averaging 45.130 Year from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: UW: 3 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.

In 2023, the average annual income of farm households in South Korea stood at around 50.8 million South Korean won. This was an increase from the previous year.

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 HS: AS: 4 Quintile: Average Age of Household Head data was reported at 47.610 Year in Sep 2018. This records an increase from the previous number of 47.230 Year for Jun 2018. Korea HS: AS: 4 Quintile: Average Age of Household Head data is updated quarterly, averaging 43.830 Year from Mar 2003 (Median) to Sep 2018, with 63 observations. The data reached an all-time high of 47.610 Year in Sep 2018 and a record low of 40.210 Year in Mar 2003. Korea HS: AS: 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.H062: Household Income and Expenditure Survey (HS): by Income Quintile: All Salary and Wage Earner.

South Korea HS: AS: 5 Quintile: Average Monthly Expenditure (AME) data was reported at 6,547,772.000 KRW in 2017. South Korea HS: AS: 5 Quintile: Average Monthly Expenditure (AME) data is updated yearly, averaging 6,547,772.000 KRW from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: AS: 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.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 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.

HS: AH: Average Monthly Expenditure (AME) data was reported at 3,326,764.000 KRW in 2018. This records an increase from the previous number of 3,316,143.000 KRW for 2017. HS: AH: Average Monthly Expenditure (AME) data is updated yearly, averaging 3,321,453.500 KRW from Dec 2017 (Median) to 2018, with 2 observations. The data reached an all-time high of 3,326,764.000 KRW in 2018 and a record low of 3,316,143.000 KRW in 2017. HS: AH: 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.H036: Household Income and Expenditure Survey: All Household: Nominal.

In 2023, the average income of livestock farm households was about 67 million South Korean won, the largest among other farm households in South Korea. On average, South Korean farm households earned around 50.8 million won that year.

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.

South Korea HS: UW: 3 Quintile: Persons per Household data was reported at 2.760 Person in 2017. South Korea HS: UW: 3 Quintile: Persons per Household data is updated yearly, averaging 2.760 Person from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: UW: 3 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 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.

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: AS: 2 Quintile: Average Monthly Expenditure (AME) data was reported at 2,629,242.000 KRW in 2017. South Korea HS: AS: 2 Quintile: Average Monthly Expenditure (AME) data is updated yearly, averaging 2,629,242.000 KRW from Dec 2017 (Median) to 2017, with 1 observations. South Korea HS: AS: 2 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.