Income Levels In South Korea
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In 2010 south korea made a strong economic rebound with a growth rate of 6 1 signaling a return of the economy to pre crisis levels.
Income levels in south korea. Wages in south korea decreased to 3615931 krw month in the second quarter of 2020 from 4003335 krw month in the first quarter of 2020. More info available here. The data reached an all time high of 17 408 003 usd in dec 2019 and a record low of 7 685 194 usd in dec 2003. This figure is higher than the previous value of 15 335 390 in december 2017.
South korea s annual household income per capita data is updated yearly available from dec 2003 to dec 2019 with an averaged value of 12 664 518 usd. The minimum salary in seoul south korea in 2020 is of 8 590 won per hour or approximately usd 7 3. In south korea economy general manager is on the top list of highest earners earning an average gross salary of krw 145 406 976. The average monthly income in south korea is around 3 37 million south korean won for men and about 2 1.
South korea s export has recorded 424 billion in the first eleven months of the year 2010 already higher than its export in. The annual household income per capita in south korea was 16 567 175 in december 2018. Per month considering a full time job the sum is approximately 1 5 million krw or slightly more than 1250 usd. Other education career earn a gross annual average of krw 24 619 777 while english teacher earn krw 25 626 675.
Disposable personal income in south korea averaged 609739 06 krw billion from 1970 until 2019 reaching an all time high of 1925872 90 krw billion in 2019 and a record low of 2866 70 krw billion in 1970. Disposable personal income in south korea increased to 1925872 90 krw billion in 2019 from 1890779 40 krw billion in 2018. Published by the bank of korea on a quarterly basis the national income statistics indicates a nation s economic power and living standards of its people. Despite reaching an all time high since 2003 this figure is significantly lower than the oecd average household net adjusted disposable income per capita of 30 563 a year.
Economy latest trend ranking composite leading indicator cli indicator 100 54 amplitude adjusted long term average 100 oct 2020 korea long term average 100 household disposable income indicator 3 4 net annual growth rate 2018 korea annual growth rate. Wages in south korea averaged 3186145 50 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. On average female workers earned about 66 6 percent of their male equivalents income.
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