Average Salary in South Korea
The average salary in South Korea in 2024 is $27,596 (USD) per year.
$27,596 (USD)
per year
$2,300 (USD)
per month
$14 (USD)
per hour
The average salary in South Korea in 2024, is $27,596 per year. The top 50% of earners in South Korea earn an average of $21,525 per year, while the top 10% earn an average of $55,192 per year, and the top 1% earn an average of $165,576 per year.
Top earners salaries in South Korea
Minimum salary
≈$8.10 (in USD)
per year
Note that the minimum salary can differ by state and industry.
Median salary
$21,525 (USD)
per year
The middle point of a salary distribution, where half of the workers earn more and half earn less.
Top 25% Salary
$35,875 (USD)
per year
Top 10% Salary
$55,192 (USD)
per year
Top 1% Salary
$165,576 (USD)
per year
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Development of average salary from 2019 to 2023
| Year | Average Salary | Change |
|---|---|---|
| 2019 | $26,000 (USD) | - |
| 2020 | $26,500 (USD) | 1.9% |
| 2021 | $27,000 (USD) | 1.9% |
| 2022 | $27,500 (USD) | 1.9% |
| 2023 | $27,596 (USD) | 0.3% |
About the data
The data on SalaryMonitor.org is sourced from the following sources: the United States Bureau of Labor Statistics (BLS), Eurostat, the Office for National Statistics (UK), the OECD, the International Labour Organization (ILO), and the World Bank. In some cases where the real-world data is missing, the figures are estimated.
FAQ
Salary vs. wage vs. income, what is the difference?
A salary is a fixed annual amount paid to an employee, divided into regular intervals (e.g., monthly or bi-weekly). It doesn't vary based on hours worked, and salaried employees usually don't receive extra pay for overtime. Salaried positions are common in professional and management roles.
A wage is an hourly rate paid to employees based on the number of hours worked. It can fluctuate depending on hours worked, including overtime. Wage-based jobs are often in industries like retail, manufacturing, or labor.
Income refers to the total money earned from various sources, including salary, wages, investments, and passive income. It represents the overall financial earnings over a period, such as monthly or annually. Income can come from employment, business, or other financial assets.