What Is the Average Salary of Workers in Korea?

In 2023, Statistics Korea released the average salary of Korean workers. On average, how much do office workers earn in a year? The Korean worker income statistics released by Statistics Korea were first published in February 2023, and the data is based on 2021.

According to the statistics, the average income of workers in Korea is KRW 3,330,000 per month, and the median income is KRW 2,500,000. These figures rose by KRW 130,000 (4.1%) and KRW 80,000 (3.3%) respectively compared with the previous year.

So which industry earns the most money? The highest-earning industry was finance and insurance, at KRW 7,260,000. On the other hand, the lowest-earning industry was accommodation and food services, at KRW 1,620,000.

By age group, people in their 40s had the highest average income at KRW 4,140,000. By gender, the average income was KRW 3,890,000 for men and KRW 2,560,000 for women, meaning men earned about 1.5 times more than women.

The larger the company, the higher the average monthly pay. Large corporations recorded KRW 5,630,000, non-profit organizations KRW 3,350,000, and small and medium-sized enterprises KRW 2,660,000.

Income also rose with length of service, and the largest increase over the previous year was among those with 1 to less than 2 years of service (4.7%).

That wraps up our look at the average salary and income of Korean workers. According to Statistics Korea, the average monthly pay of workers is KRW 3,330,000. If we estimate the annual salary with a simple calculation, the average annual salary of Korean workers comes to KRW 39,960,000, or roughly KRW 40 million.