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South Korea Wages: Minimum and Average

South Korea Wages Data

Indicator Data Period
Minimum Wages 8720 KRW/Hour | 1246.463 USD/Month 2021
Wages 3868678 KRW/Month | 3456.252 USD/Month 4Q/20
Wages in Manufacturing 4248573 KRW/Month | 3795.647 USD/Month 4Q/20


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 8720 KRW/Hour (1246.463 USD/Month) in 2021. 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
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
5210 2014 31.12.2014


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 3868678 KRW/Month (3456.252 USD/Month) in the forth quarter of 2020. The maximum rate of average wage for employees was 4021244 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
3868678 4Q/20 06.03.2021
3895894 3Q/20 28.11.2020
3615931 2Q/20 05.09.2020
4003335 1Q/20 06.06.2020
3806684 4Q/19 21.03.2020
3863726 3Q/19 28.12.2019
3585588 2Q/19 29.10.2019
4021244 1Q/19 01.06.2019


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 increased to 4248573 KRW/Month (3795.647 USD/Month). The maximum level was 4654149 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
4248573 4Q/20 06.03.2021
4232213 3Q/20 28.11.2020
3803701 2Q/20 05.09.2020
4432727 1Q/20 06.06.2020
4149388 4Q/19 21.03.2020
4199394 3Q/19 28.12.2019
3804036 2Q/19 29.10.2019
4654149 1Q/19 04.07.2019


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 2020 62 60
Unemployment Rate Mar/21 3.9 % 4
Labor Force Participation Rate Mar/21 62.5 % 61.6

Wages in other countries

Country Updated Actual Previous
Bangladesh 2017 156.381 USD/Month 152.123
Kyrgyzstan Dec/20 285.408 USD/Month 208.16
Mongolia 3Q/20 445.134 USD/Month 442.327
Tajikistan Jan/21 126.753 USD/Month 144.034
China 2019 1197.588 USD/Month 1086.798
Georgia 4Q/20 381.159 USD/Month 359.42
India 2014 115.31 USD/Month 108.53
Israel Jan/21 3727.427 USD/Month 3687.835
South Korea 4Q/20 3456.252 USD/Month 3480.566
Taiwan Feb/21 2835.012 USD/Month 2671.377
Vietnam 2Q/20 274.743 USD/Month 311.967
Armenia Feb/21 361.255 USD/Month 352.087
Hong Kong 4Q/20 2174.815 USD/Month 2208.563
Japan Feb/21 2760.104 USD/Month 2817.996
Kazakhstan Feb/21 518.285 USD/Month 516.074
Macau 3Q/20 1875.141 USD/Month 1875.141
Malaysia 2019 782.388 USD/Month 749.141
Philippines 2016 200.58 USD/Month 189.61
Singapore 4Q/20 4418.066 USD/Month 3919.652
Thailand 4Q/20 466.331 USD/Month 467.926
Azerbaijan Jan/21 406.471 USD/Month 415.882
Bahrain 4Q/20 2071.809 USD/Month 2082.447
Uzbekistan 2019 220.681 USD/Month 172.938
Mauritius 2019 778.442 USD/Month 752.661