Monthly minimum wage in Korea
Korea: Monthly minimum wage was 2.06 million in 2024. ◆ Volatile
Monthly minimum wage in Korea, 1995–2024
Source: International Labour Organization.
Analysis
The most recent figure for monthly minimum wage in Korea is 2.06 million, measured in 2024. That is the highest value across all 30 years on record.
That represents a change of up 2.5% on the previous year and up 89.3% over ten years.
Over the whole period, monthly minimum wage in Korea peaked at 2.06 million in 2024 and was at its lowest, 264,420, in 1995.
That places Korea 6th out of 173 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Monthly minimum wage in Korea, year by year
| Year | Value | Change |
|---|---|---|
| 1995 | 264,420 | — |
| 1996 | 288,150 | +9.0% |
| 1997 | 316,400 | +9.8% |
| 1998 | 335,610 | +6.1% |
| 1999 | 344,650 | +2.7% |
| 2000 | 361,600 | +4.9% |
| 2001 | 421,490 | +16.6% |
| 2002 | 474,600 | +12.6% |
| 2003 | 514,150 | +8.3% |
| 2004 | 567,260 | +10.3% |
| 2005 | 641,840 | +13.1% |
| 2006 | 700,600 | +9.2% |
| 2007 | 786,480 | +12.3% |
| 2008 | 852,020 | +8.3% |
| 2009 | 904,000 | +6.1% |
| 2010 | 928,860 | +2.8% |
| 2011 | 902,880 | -2.8% |
| 2012 | 957,220 | +6.0% |
| 2013 | 1.02 million | +6.1% |
| 2014 | 1.09 million | +7.2% |
| 2015 | 1.17 million | +7.1% |
| 2016 | 1.26 million | +8.1% |
| 2017 | 1.35 million | +7.3% |
| 2018 | 1.57 million | +16.4% |
| 2019 | 1.75 million | +10.9% |
| 2020 | 1.80 million | +2.9% |
| 2021 | 1.82 million | +1.5% |
| 2022 | 1.91 million | +5.0% |
| 2023 | 2.01 million | +5.0% |
| 2024 | 2.06 million | +2.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 309,846 | 264,420 | 344,650 | 5 |
| 2000s | 622,404 | 361,600 | 904,000 | 10 |
| 2010s | 1.20 million | 902,880 | 1.75 million | 10 |
| 2020s | 1.92 million | 1.80 million | 2.06 million | 5 |
Countries ranked near Korea
More work & labour data for Korea
- Labour force participation rate (ILO modelled estimates) 63.91 (2027)
- Labour force (ILO modelled estimates) 29,824 (2027)
- Labour force (ILO modelled estimates) (15+), annual growth rate -0.1065 % change on previous year (2027)
- Legislation on sexual harassment in employment 1 (2023)
- Criminal penalties or civil remedies sexual harassment in employment 1 (2023)
- Women can take the same jobs as men 1 (2023)
- Labor force participation rate, total (% of total population ages 15+) 64.4% (2025)
- Labor force participation rate, male (% of male population ages 15+) 72.0% (2025)
- Ratio of female to male labor force participation rate (%) 78.9% (2025)
- Labor force participation rate, female (% of female population ages) 56.8% (2025)
Frequently asked questions
- What is monthly minimum wage in Korea?
- Monthly minimum wage in Korea was 2.06 million in 2024, according to International Labour Organization.
- What is the highest monthly minimum wage recorded in Korea?
- The highest recorded value was 2.06 million in 2024.
- What is the lowest monthly minimum wage recorded in Korea?
- The lowest recorded value was 264,420 in 1995.
- How does Korea rank for monthly minimum wage?
- Korea ranks 6th out of 173 countries with data for 2024.
- Is monthly minimum wage rising or falling in Korea?
- Over the last ten years it is up 89.3%. The long-run trend across the full record is volatile.
- Where does this Korea data come from?
- The figures come from International Labour Organization, published as part of Monthly minimum wage. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 30 observations, free to reuse under ILO Terms of Use (attribution required).
About this data
Data refer to the minimum monthly earnings of all employees as of December 31st of each year. Minimum wages are not reported for countries for which collective bargaining is in place for minimum wages. In cases where a national minimum wage is not mandated, the minimum wage in place in the capital or major city is used. In some cases, an average of multiple regional minimum wages is used. In countries where the minimum wage is set at the sectoral level or occupational level, the minimum wage for manufacturing or unskilled workers is generally applied. Data are converted to U.S. dollars as the common currency, using exchange rates or purchasing power parity (PPP) rates rates for private consumption expenditures. The latter series allows for international comparisons by taking account of the differences in relative prices between countries. For more information, refer to the Wages and Working Time Statistics (COND) database description.