Wages in South Korea increased to 4003335 KRW/Month in the first quarter of 2020 from 3806684 KRW/Month in the fourth quarter of 2019.

Wages in South Korea averaged 3177374.37 KRW/Month from 2008 until 2020, reaching an all time high of 4021244 KRW/Month in the first quarter of 2019 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 July of 2020. source: Ministry of Employment and Labor, South Korea

Wages in South Korea is expected to be 3981000.00 KRW/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wages in South Korea to stand at 4251000.00 in 12 months time. In the long-term, the South Korea Total Wages is projected to trend around 4042000.00 KRW/Month in 2021 and 4211000.00 KRW/Month in 2022, according to our econometric models.

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South Korea Total Wages

Actual Previous Highest Lowest Dates Unit Frequency
4003335.00 3806684.00 4021244.00 2460239.00 2008 - 2020 KRW/Month Quarterly
Current Prices, NSA

South Korea Labour Last Previous Highest Lowest Unit
Unemployment Rate 4.50 3.80 7.10 3.00 percent [+]
Employed Persons 26657.00 26504.00 27522.00 20268.00 Thousand [+]
Unemployed Persons 1242.00 1051.00 1546.00 690.00 Thousand [+]
Labor Force Participation Rate 63.00 62.00 64.20 48.50 percent [+]
Labour Costs 101.50 111.40 129.90 69.00 points [+]
Productivity 115.80 110.10 115.80 53.50 points [+]
Wages 4003335.00 3806684.00 4021244.00 2460239.00 KRW/Month [+]
Wages in Manufacturing 4432727.00 4149388.00 4654149.00 2520139.00 KRW/Month [+]
Minimum Wages 8590.00 8350.00 8590.00 600.00 KRW/Hour [+]
Population 51.71 51.61 51.71 25.01 Million [+]
Retirement Age Women 60.00 60.00 60.00 55.00 [+]
Retirement Age Men 60.00 60.00 60.00 55.00 [+]
Youth Unemployment Rate 10.30 9.10 13.40 3.80 percent [+]
Employment Rate 59.40 59.50 61.70 56.10 percent [+]


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