Wages in South Korea decreased to 3773068 KRW/Month in the second quarter of 2021 from 4187464 KRW/Month in the first quarter of 2021. source: Ministry of Employment and Labor, South Korea

Wages in South Korea averaged 3241340.35 KRW/Month from 2008 until 2021, reaching an all time high of 4187464 KRW/Month in the first quarter of 2021 and a record low of 2460239 KRW/Month in the second quarter of 2008. This page provides - South Korea Total Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Total Wages - values, historical data and charts - was last updated on September of 2021.

Wages in South Korea is expected to be 4011000.00 KRW/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Total Wages is projected to trend around 4121000.00 KRW/Month in 2022 and 4211000.00 KRW/Month in 2023, according to our econometric models.

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South Korea Total Wages

Actual Previous Highest Lowest Dates Unit Frequency
3773068.00 4187464.00 4187464.00 2460239.00 2008 - 2021 KRW/Month Quarterly
Current Prices, NSA

South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 2.80 3.30 7.10 2.80 percent [+]
Employed Persons 27351.00 27331.00 27508.00 20268.00 Thousand [+]
Unemployed Persons 794.00 930.00 1546.00 695.00 Thousand [+]
Labor Force Participation Rate 63.40 63.00 64.20 48.50 percent [+]
Labour Costs 118.60 103.80 129.90 69.00 points [+]
Productivity 119.40 119.40 119.40 53.50 points [+]
Wages 3773068.00 4187464.00 4187464.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 4022810.00 4710398.00 4710398.00 2520139.00 KRW/Month [+]
Minimum Wages 8720.00 8590.00 8720.00 600.00 KRW/Hour [+]
Population 51.78 51.71 51.78 25.01 Million [+]
Retirement Age Women 62.00 60.00 62.00 55.00 [+]
Retirement Age Men 62.00 60.00 62.00 55.00 [+]
Youth Unemployment Rate 7.10 8.80 13.40 3.80 percent [+]
Employment Rate 61.30 61.20 61.70 56.10 percent [+]


South Korea Total Wages
In South Korea, wages are benchmarked using total salaries.