South Korea is home to a wide range of industrial giants in East Asia, including Samsung and Hyundai.
The Korean Peninsula is also one of the largest economies in the world, with excellent business opportunities and high employment rates. A well-positioned outsourcing location on the global map.
But what is the average salary in Korea?
The average salary in Korea is around KRW 3,900,000 (Korean victory) or USD 2,846 per month (by the May 2025 exchange rate).
In this article, we dive into all the key statistics on average salary, median salary, minimum wage and annual incremental rates in Korea. We’ll look at some of the important benefits of outsourcing your business to Korea.
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Let’s get started!
What is the average salary in Korea?
Like other countries, the average salary in Korea varies based on a variety of factors, including your role, working hours, years of experience, employment market, industry, and more.
Salaries in Korea tend to be lower than those in countries such as the UK, US, Australia and Hong Kong, but there are still major variations within the country.
According to payroll expertsthe average Korean employee is paid approximately 53,898,728 krw ($39,332) per year prior to income tax.
These average salary figures can provide insight into the Korean economy and job markets and can help you make informed business decisions. Let’s take a look at some important statistics about the same thing.
1. Average salary range
On average, Korean salaries range from around 983,000 kRW ($717) per month to 17,400,000 kRW ($12,697) per month for the high-end.
Note that these figures only show the average salary earned by Koreans, not the actual maximum and minimum salary.
2. Median salary
The median salary is the “midpoint” within the salary range. It is calculated by arranging all specified salaries in ascending order and selecting the midpoint in the list.
For example, the median salary in Korea is 3,500,000 KRW/month (USD 2,554).
What this means is that half of the workforce earns less than 3,500,000 kRW a month, with half that earning more.
3. Minimum wage
The minimum wage is the minimum wage that is legally bound by the employer’s legal payments to regular employees as compensation. The South Korean government has passed Minimum Wage Act In 1986, it standardized and protected the minimum wage for its workforce.
According to statisticsKorea’s minimum wage is 10,030 kRW per hour (USD 7.32) in 2025.
So is the average wage the same as the average salary?
not much.
Hourly wages are typically paid on a working hourly basis for part-time or full-time jobs and do not include bonuses, paid leave, health insurance, retirement benefits, or transportation allowances.
Salaries, meanwhile, include all these perks and the employee’s basic compensation for monthly jobs.
Breakdown of average salary in Korea
To better understand the average salary distribution in Korea, we need to look at several other factors.
Let’s take a look:
1. For each level of experience
Work experience is probably the most important factor in determining your salary range. Therefore, employees with more experience earn more than juniors.
In Korea, employees with 2-5 years of experience earn around 32% more average income than fresh people with no experience. Similarly, professionals with 5 years or more experience are 36% more expensive than those with less experience.
Of course, if an employee exceeds 10 years of experience, the salary increases by an additional 21%, and an additional 14% after a total of 15 years of experience.
2. City
In Korea, the average monthly income may vary from city to city. Regions with low infrastructure and fewer businesses tend to have lower average pay.
Let’s take a look at some of the average salary for different cities in the country.
| city | Average year sal (krw) |
| Buchon | 43,198,900 |
| Busan | 51,498,800 |
| daegu | 49,561,800 |
| Big jeon | 48,721,100 |
| Goyan | 45,119,800 |
| Gwangju | 47,578,300 |
| incheon | 50,519,600 |
| seongnam | 44,040,700 |
| Seoul | 52,319,400 |
| suwon | 46,919,300 |
3. By education
The average Korean worker with a certificate or diploma earns 17% more than those who only attend high school.
Employees with a bachelor’s degree earn 24% higher salaries than employees with a diploma. And employees who have a master’s degree earn 29% more than employees with a bachelor’s degree.
Finally, doctoral candidates earn salaries over 23% higher than those with a master’s degree.
4. Industry by industry
The average salary across sectors varies greatly depending on the demand for each occupation. Some occupations pay far more than others.
For example, employees in the IT sector may earn multiple acquisitions in manufacturing or construction at the same experience level.
People who earn money in major Korean industries include:
| Industry Sector | Average monthly salary (KRW) |
| Architecture | 3,800,000 |
| bank | 4,250,000 |
| Construction / Building / Installation | 2,410,000 |
| engineering | 3,300,000 |
| Factory and Manufacturing | 2,710,000 |
| Health and medical care | 5,800,000 |
| human resources | 3,740,000 |
| public relations | 3,840,000 |
| real estate | 4,280,000 |
| Education / Education | 4,070,000 |
Notes: The above figures come from a report on the salary survey of Korean employees, including foreign workers. Actual numbers may vary based on a variety of factors.
Now that we have seen the average salary in Korea and how it changes depending on different factors, let’s take a look at how many people earned by different professions.
Average salary for popular occupations in Korea
Various occupations in Korea are compensated differently based on industry demand, skill proficiency, etc.
Here is a brief list of average pay for various popular occupations in Korea:
| post | Average monthly salary (KRW) |
| chief executive officer | 8,780,000 |
| CFO | 8,560,000 |
| Product Manager | 5,780,000 |
| Financial Analyst | 5,260,000 |
| Project Manager | 4,560,000 |
| Secondary school teacher | 3,090,000 |
| chef | 2,510,000 |
| Customer Support Representative | 2,450,000 |
Next, find out the average salary increase rate in Korea.
Average salary increase in Korea
Generally, when it comes to pay hiking, we consider annual increments, but this is not always the case.
Korean employees are most likely to get a 9% salary increment every 16 months. To make a fair comparison, the rest of the world will receive an average increase of 3% over 16 months.
More experienced employees are more likely to get paid hikes. Companies in a thriving industry are more likely to give frequent pay increases along with other bonuses.
This is a rough estimate of the increase in average annual salary for each industry.
| Industry Sector | Average annual salary increase |
| bank | 7% |
| Energy | 11% |
| information technology | 10% |
| health care | 10% |
| trip | 11% |
| construction | 8% |
| education | 9% |
Next, let’s look at why business processes need to be outsourced to Korea.
5 Important Benefits of Outsourcing to Korea
Korea has a lot to offer businesses and employees, including desirable employment opportunities and a supportive outsourcing environment.
Some of the key benefits of outsourcing to Korea include:
1. Cost-effective
That’s what Korea is about 22% cheaper than the US To provide references regarding costs such as living, housing, taxes, wages, etc., US dollar equals approximately 1,370 Korean as of May 2025.
Domestic businesses enjoy a range of benefits, including lower startup costs, cash grants, tax rebates, and free trade zones. As a result, it has become a popular global business center.
Forecast revenues in the Korean IT outsourcing market are expected to reach 2025 USD 139.4 billion.
2. A fast-growing economy
South Korea is surrounded by China, Japan and North Korea, providing access to these markets and over 1.7 million consumers.
The economy was assessed based on nominal GDP ₩2.61 Quadrillion (Approximately $1.87 trillion). As of 2025, it ranks as Asia’s fourth largest economy and the 13th largest economy in the world.
3. Highly skilled workforce
Over 74% of Koreans have graduate-level degrees, and the country spends almost 7% of its GDP on education.
Korea is also one of the highest OECD countries in reading literacy, science and mathematics. In fact, the average student in Korea scores 519 for these subjects, which is higher than the OECD average of 486 in the OECD International Student Assessment Program (PISA).
As a result, employment rates are high, which has been stable over these years.
4. Perfect infrastructure and technology
Korea has one of them Fastest broadband network Worldwide, with commitment to renewable technologies and exceptional infrastructure. According to Bloomberg’s innovative index In 2021, Korea was ranked among the most innovative countries in the world.
The South Korean government has announced a new plan to spend more than 8 trillion KRWs each year from 2020 to 2023 to maintain a safe and sustainable infrastructure.
The country has also set a US$3.9 billion budget in 2020 for technologies such as artificial intelligence (AI) to boost R&D, economic growth and infrastructure.
5. Strong business relationships with global investors
South Korea is known to be one of the strongest business ties with US and UK investors. The country has recently signed Free Trade Agreement In five or more countries in Central America.
Recent improvements to government oversight and regulatory efficiency have made it a growth and flexible market for BPO and IT outsourcing. In fact, it ranked fifth in 2020 with a score of 80 out of 100 (Statista, 2020).
How Time Doctor Helps You Management Payroll
Time Doctor is a powerful tool designed to help businesses manage their employees efficiently. Here are the times that doctors can help with payroll management:
1. Accurate time tracking
Time Doctor provides accurate tracking of employee hours and ensures that every minute is explained. This accuracy helps businesses pay employees correctly for the time they have worked, eliminating inconsistencies and promoting trust.
2. Productivity insights
By analyzing productivity data, employers can identify high-performance employees and employees who may need additional support or training. This information is important for making informed decisions about salary increases and bonuses.
3. Salary integration
Time Doctor integrates seamlessly with a variety of payroll systems to simplify the payroll process. Automatic calculations of working hours, overtime and leaves make payroll management more efficient and error-prone.
4. Cost Management
For companies outsourced to Japan, Time Doctor helps manage labor costs by providing detailed reports on employee hours and productivity. This helps ensure that your business gets the best value for investing in the workforce.
5. Remote work management
Time Doctor is particularly useful for managing remote teams. It provides features such as time tracking, screenshot monitoring, activity levels and more. This allows remote employees to work efficiently and justify their pay.
By leveraging time physicians, businesses can optimize payroll management, improve productivity, ensure fair employee compensation, and become an essential tool for organizations looking to streamline their payroll processes.
Final Thoughts
Korea has many potential opportunities for startups and businesses in the future. With a low unemployment rate and a skilled workforce, you can benefit your business in many ways.
However, it should be noted that outsourcing needs vary widely across business and industry sectors.
Use the information explained in this article to learn more about the economy and average salary in Korea and choose the one that’s right for your business.
