South Korea minimum wage is one of the most researched topics about the minimum wages of the countries. If you are looking for the answer to the question of what is the minimum wage in south korea, then you are at the right place. This content will be an up-to-date guide on both “South Korea salary average” and “minimum wage in Korea“.
Minimum wage in South Korea 2023
Korea minimum wage for 2023 is about 9160 won per hour, which is about 7 US dollars. According to this calculation, the average Korean minimum wage is 1,914,440 won per month, which is approximately $1,500. Below is the hourly and monthly “minimum wage Korea” table. In addition, in the continuation of our article, detailed information about the average salary in korea will be given.
|South Korea minimum wage per hour||1960 wons|
|South Korea minimum wage per hour mounth||1,914,440 wons|
South Korea is a country with a population of approximately 51 million and a large number of employees. According to the latest data, the total number of employees in the country is around 26 million. The average unemployment rate in the country is around 3.4%. This is an indication that South Korea is a developed country. This is a very good figure for the average population. The capital of the country and also the largest city is Seoul.
Located on the Korean peninsula in East Asia, the country is governed with Republic. It is a beautiful country with the Sea of Japan in the east and the strait of Korea in the south. Due to its strong economy and high level of welfare, it is among the most developed countries of the Asian continent.
Average salary in South Korea
Now let’s talk about the average income of South Korea. The country imposes a minimum wage, and paying a worker less than the minimum wage is prohibited by law. According to the latest data from Korea Economic Research Institute, the average income of south korea is 4,087,406 won per a mounth.
As in all other countries, the average income in South Korea differs according to the profession, experience, workplace and many criteria. We have prepared a table about average south korean salary below. You can get information about average salaries in the table “average Korean salary”.
|Profession||Won per year avarage||U.S. dollars per year avarage|
I tried to give information about average korean income. If you have an opinion or question about average income in korea, you can ask in the comment section.Below are links to articles for minimum wages in some countries. They may also be of interest to you;