South Korea Wages: Minimum and Average
South Korea Wages Data
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 9620 KRW/Hour | 1150.146 USD/Month | 2023 |
| Wages | 4035499 KRW/Month | 3015.471 USD/Month | 2Q/23 |
| Wages in Manufacturing | 4374212 KRW/Month | 3268.569 USD/Month | 2Q/23 |
Latest data on Minimum Wages (KRW/Hour)
What is minimum wage in South Korea?
- Minimum Wages in South Korea increased to 9620 KRW/Hour (1150.146 USD/Month) in 2023. The maximum rate of minimum wage for employees was 8720 KRW/Hour and minimum was 600 KRW/Hour.
- Data published Yearly by Minimum Wage Council.
Historical Data (KRW/Hour) by years
Data
Period
Date
| 9620 | 2023 | 11.01.2023 |
| 9160 | 2022 | 01.04.2022 |
| 8720 | 2021 | 09.02.2021 |
| 8590 | 2020 | 05.02.2020 |
| 8350 | 2019 | 24.01.2019 |
| 7530 | 2018 | 19.01.2018 |
| 6470 | 2017 | 11.08.2017 |
| 6030 | 2016 | 01.01.2016 |
Historical Chart by presidents (KRW/Hour)
Minimum Wages in South Korea by presidents
| Name | Period | Start Data | End Data | Max Value | Min Value | CHG% Start/End |
|---|---|---|---|---|---|---|
| Mun Jaei-n | 10.05.2017 - | 6470.0000 | 7530.0000 | 7530.0000 | 6470.0000 | 16.38% |
| Park Geun-hye | 25.02.2013 - 10.05.2017 | 4860.0000 | 6470.0000 | 6470.0000 | 4860.0000 | 33.13% |
| Lee Myung-bak | 25.02.2008 - 25.02.2013 | 3770.0000 | 4580.0000 | 4580.0000 | 3770.0000 | 21.49% |
| Roh Moo-hyun | 25.02.2003 - 25.02.2008 | 2275.0000 | 3480.0000 | 3480.0000 | 2275.0000 | 52.97% |
| Kim Dae-jung | 25.02.1998 - 25.02.2003 | 1485.0000 | 2100.0000 | 2100.0000 | 1485.0000 | 41.41% |
| Kim Youngs-am | 25.02.1993 - 25.02.1998 | 1005.0000 | 1400.0000 | 1400.0000 | 1005.0000 | 39.30% |
| Roh Tae-woo | 25.02.1988 - 25.02.1993 | 600.0000 | 925.0000 | 925.0000 | 600.0000 | 54.17% |
Latest data on Wages (KRW/Month)
What is average wage in South Korea?
- Average Wages in South Korea decreased to 4035499 KRW/Month (3015.471 USD/Month) in the second quarter of 2023. The maximum rate of average wage for employees was 4187464 KRW/Month and minimum was 2460239 KRW/Month.
- Data published Quarterly by Ministry of Employment and Labor.
Historical Data (KRW/Month) by years
Data
Period
Date
| 4035499 | 2Q/23 | 07.09.2023 |
| 4576213 | 1Q/23 | 03.06.2023 |
| 4247765 | 4Q/22 | 04.03.2023 |
| 4264096 | 3Q/22 | 03.12.2022 |
| 3928819 | 2Q/22 | 03.09.2022 |
| 4505228 | 1Q/22 | 04.06.2022 |
| 4087406 | 4Q/21 | 05.03.2022 |
| 4107606 | 3Q/21 | 18.01.2022 |
Historical Chart by presidents (KRW/Month)
Wages in South Korea by presidents
| Name | Period | Start Data | End Data | Max Value | Min Value | CHG% Start/End |
|---|---|---|---|---|---|---|
| Mun Jaei-n | 10.05.2017 - | 3332086.0000 | 3917383.0000 | 3917383.0000 | 3332086.0000 | 17.57% |
| Park Geun-hye | 25.02.2013 - 10.05.2017 | 3164278.0000 | 3623535.0000 | 3623535.0000 | 2972926.0000 | 14.51% |
| Lee Myung-bak | 25.02.2008 - 25.02.2013 | 2589983.0000 | 3030474.0000 | 3061096.0000 | 2460239.0000 | 17.01% |
Latest data on Wages in Manufacturing (KRW/Month)
How much is average wage in manufacturing in South Korea?
- Average wages in manufacturing sector in South Korea decreased to 4374212 KRW/Month (3268.569 USD/Month). The maximum level was 4710398 KRW/Month and minimum was 2520139 KRW/Month.
- Data published Quarterly by Ministry of Employment and Labor.
Historical Data (KRW/Month) by years
Data
Period
Date
| 4374212 | 2Q/23 | 07.09.2023 |
| 5359607 | 1Q/23 | 03.06.2023 |
| 4694645 | 4Q/22 | 04.03.2023 |
| 4701178 | 3Q/22 | 03.12.2022 |
| 4220311 | 2Q/22 | 03.09.2022 |
| 5232994 | 1Q/22 | 04.06.2022 |
| 4563390 | 4Q/21 | 05.03.2022 |
| 4512938 | 3Q/21 | 18.01.2022 |
Historical Chart by presidents (KRW/Month)
Wages in Manufacturing in South Korea by presidents
| Name | Period | Start Data | End Data | Max Value | Min Value | CHG% Start/End |
|---|
Other labor indicators in South Korea
| Index | Updated | Actual | Previous |
| Retirement Age Men | 2022 | 60 | 60 |
| Unemployment Rate | Aug/23 | 2.4 % | 2.8 |
| Labor Force Participation Rate | Aug/23 | 64.4 % | 65 |
Wages in other countries
| Country | Updated | Actual | Previous |
| Bangladesh | 2017 | 141.581 USD/Month | 137.726 |
| Kyrgyzstan | Jul/23 | 372.046 USD/Month | 397.056 |
| Mongolia | 2Q/23 | 663.775 USD/Month | 643.054 |
| Tajikistan | Jun/23 | 203.349 USD/Month | 176.321 |
| China | 2022 | 1301.701 USD/Month | 1219.6 |
| Georgia | 2Q/23 | 671.004 USD/Month | 638.29 |
| India | 2014 | 115.31 USD/Month | 108.53 |
| Israel | Jun/23 | 3237.175 USD/Month | 3226.81 |
| South Korea | 2Q/23 | 3015.471 USD/Month | 3419.512 |
| Taiwan | Jul/23 | 1846.444 USD/Month | 1678.546 |
| Vietnam | 2Q/23 | 286.489 USD/Month | 289.723 |
| Armenia | Aug/23 | 658.099 USD/Month | 668.655 |
| Hong Kong | 2Q/23 | 2306.018 USD/Month | 2269.91 |
| Japan | Aug/23 | 2140.488 USD/Month | 2993.015 |
| Kazakhstan | Jan/23 | 718.049 USD/Month | 657.009 |
| Macau | 2Q/23 | 2114.139 USD/Month | 2114.139 |
| Malaysia | 2021 | 642.439 USD/Month | 620.439 |
| Philippines | 2016 | 200.58 USD/Month | 189.61 |
| Singapore | 2Q/23 | 4588.745 USD/Month | 5151.515 |
| Thailand | 2Q/23 | 423.147 USD/Month | 415.075 |
| Azerbaijan | Aug/23 | 544.118 USD/Month | 542.353 |
| Bahrain | 2Q/23 | 2297.082 USD/Month | 2307.692 |
| Uzbekistan | 2022 | 319.264 USD/Month | 264.409 |
| Mauritius | 2022 | 846.312 USD/Month | 763.242 |
