Minimum Wage in South Korea: 7,530 won ($6.67) per hour, although the effective comparable minimum wage is higher at 9,200 won per hour due to a mandatory weekly paid holiday for people that work more than 15 hours per week, a law that is absent in other developed countries. The minimum wage law applies equally to foreign, temporary or young workers covering all industries and regions nationwide. On 1 January 2019, it is scheduled to increase to 8,350 won per hour, or 10,020 won per hour if weekly paid holidays are included.
South Korea Minimum Wage Rates – ALL
|YEAR||HOURLY (KRW)||HOURLY (USD)|
South Korea Average Annual Salary – 2019
Based on our survey average GROSS salary in South Korea is KRW 63,288,326. Average NET salary is KRW 51,612,916.
1 KRW: 0.00088 USD
|Software Developer||KRW 80,285,333|
|University Professor||KRW 77,452,807|
|Human Resources Manager||KRW 67,069,230|
|General Manager||KRW 145,808,139|
Facts and statistics about South Korea
In the East Asia the country South Korea is located. Officially it is known as the Republic of Korea. Based on the population it is the 27th largest country in the world. Seoul is known as the capital of the country and it is the most populous city also. South Korean Won is the official currency of South Korea.
The flag of the country is combined with the colors such as white, red, black, and blue. Primary industries of the country include telecommunications, electronics, and steel. South Korea is widely known as the capital of plastic surgery in the world. South Koreans consumed frequently live octopus.
|Area Total||100,363 km2|
|GDP (Nominal)||$1.693 trillion|
|Currency||South Korean won (₩) (KRW)|