In 2022, the average annual wage in South Korea fell to 48,922 U.S. dollars after adjusting for purchasing power parity (PPP). The average salary in South Korea showed a general trend of positive growth within the given period. The monthly wage was projected to reach around 5.4 thousand U.S. dollars in 2040, the highest value among the leading countries.
In 2021, South Korea was among the top five countries with the longest working hours in the Organisation for Economic Co-operation and Development (OECD). In recent years, however, various measures have been put in place for workers, such as the 52-hour workweek and the flexible working system, to maintain a work-life balance. In fact, the number of employees with flexible working arrangements has increased significantly in recent years. The average monthly working hours of South Korean workers has mostly decreased over the past decade; In 2022, Koreans worked an average of 155 hours per month. According to a survey, the majority of respondents said they would choose to work for a company where they can have a work-life balance over a higher salary. This tendency was especially prominent among parents.
Average annual wage in South Korea adjusted for Purchasing Power Parity from 2000 to 2022
(in 2022 U.S. dollars)
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
OECD. (August 23, 2023). Average annual wage in South Korea adjusted for Purchasing Power Parity from 2000 to 2022 (in 2022 U.S. dollars) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/557759/south-korea-average-annual-wage/
OECD. "Average annual wage in South Korea adjusted for Purchasing Power Parity from 2000 to 2022 (in 2022 U.S. dollars)." Chart. August 23, 2023. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/557759/south-korea-average-annual-wage/
OECD. (2023). Average annual wage in South Korea adjusted for Purchasing Power Parity from 2000 to 2022 (in 2022 U.S. dollars). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/557759/south-korea-average-annual-wage/
OECD. "Average Annual Wage in South Korea Adjusted for Purchasing Power Parity from 2000 to 2022 (in 2022 U.S. Dollars)." Statista, Statista Inc., 23 Aug 2023, https://www.statista.com/statistics/557759/south-korea-average-annual-wage/
OECD, Average annual wage in South Korea adjusted for Purchasing Power Parity from 2000 to 2022 (in 2022 U.S. dollars) Statista, https://www.statista.com/statistics/557759/south-korea-average-annual-wage/ (last visited September 01, 2024)
Average annual wage in South Korea adjusted for Purchasing Power Parity from 2000 to 2022 (in 2022 U.S. dollars) [Graph], OECD, August 23, 2023. [Online]. Available: https://www.statista.com/statistics/557759/south-korea-average-annual-wage/