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South Korea Wages: Minimum and Average

South Korea Wages Data

Indicator Data Period
Minimum Wages 9160 KRW/Hour | 1036.085 USD/Month 2022
Wages 3928819 KRW/Month | 2777.423 USD/Month 2Q/22
Wages in Manufacturing 4220311 KRW/Month | 2983.489 USD/Month 2Q/22


Latest data on Minimum Wages (KRW/Hour)

Minimum Wages
                     South Korea - Historical Data (KRW/Hour)

What is minimum wage in South Korea?

  • Minimum Wages in South Korea increased to 9160 KRW/Hour (1036.085 USD/Month) in 2022. 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
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
5580 2015 31.12.2015


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)

Wages
                     South Korea - Historical Data (KRW/Month)

What is average wage in South Korea?

  • Average Wages in South Korea decreased to 3928819 KRW/Month (2777.423 USD/Month) in the second quarter of 2022. 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
3928819 2Q/22 03.09.2022
4505228 1Q/22 04.06.2022
4087406 4Q/21 05.03.2022
4107606 3Q/21 18.01.2022
3773068 2Q/21 04.09.2021
4187464 1Q/21 05.06.2021
3868678 4Q/20 06.03.2021
3895894 3Q/20 28.11.2020


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)

Wages in Manufacturing
                     South Korea - Historical Data (KRW/Month)

How much is average wage in manufacturing in South Korea?

  • Average wages in manufacturing sector in South Korea decreased to 4220311 KRW/Month (2983.489 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
4220311 2Q/22 03.09.2022
5232994 1Q/22 04.06.2022
4563390 4Q/21 05.03.2022
4512938 3Q/21 18.01.2022
4022810 2Q/21 04.09.2021
4710398 1Q/21 05.06.2021
4248573 4Q/20 06.03.2021
4232213 3Q/20 28.11.2020


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/22 2.5 % 2.9
Labor Force Participation Rate Aug/22 64.1 % 64.8

Wages in other countries

Country Updated Actual Previous
Bangladesh 2017 141.581 USD/Month 137.726
Kyrgyzstan Jul/22 338.649 USD/Month 362.146
Mongolia 4Q/21 505.031 USD/Month 468.857
Tajikistan Jun/22 195.016 USD/Month 168.836
China 2021 1251.002 USD/Month 1140.254
Georgia 2Q/22 552.33 USD/Month 518.638
India 2014 115.31 USD/Month 108.53
Israel Jun/22 3423.217 USD/Month 3424.629
South Korea 2Q/22 2777.423 USD/Month 3184.907
Taiwan Jul/22 1843.985 USD/Month 1669.809
Vietnam 2Q/22 314.186 USD/Month 268.105
Armenia Jul/22 596.906 USD/Month 585.856
Hong Kong 2Q/22 2206.437 USD/Month 2184.271
Japan Jul/22 3047.639 USD/Month 3894.393
Kazakhstan Aug/22 682.377 USD/Month 666.757
Macau 4Q/21 1946.423 USD/Month 1996.332
Malaysia 2020 632.89 USD/Month 695.682
Philippines 2016 200.58 USD/Month 189.61
Singapore 2Q/22 4097.12 USD/Month 4653.493
Thailand 2Q/22 410.468 USD/Month 177.323
Azerbaijan Jul/22 488.824 USD/Month 486.471
Bahrain 3Q/21 2074.722 USD/Month 2082.671
Uzbekistan 2021 291.595 USD/Month 242.437
Mauritius 2021 738.839 USD/Month 733.83