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The average salary in South Korea is KRW 47,145,828 per year.
KRW 52,319,400 per year.
As you can see, the average salary in South Korea’s capital city, Seoul, is higher than the country’s average salary. The average salary in Seoul is also higher than in all other major South Korean cities.
As with other economically developed countries, there are regional variations in average salaries across South Korea. The variation in average salaries is primarily seen when comparing cities to rural areas.
In comparison to the surrounding countries, South Korea’s average salary of KRW 47,145,828 is higher than the average salary in both Japan and China:
Figures based on data from Paylab.
The average gross salary for IT Managers in South Korea is between KRW 4,600,000 and KRW 16,000,000 per month.
Engineers in South Korea earn an average gross salary of between KRW 53,000,000 and KRW 94,000,000 per year.
Sales Directors (management level) in South Korea earn an average base salary of between KRW 4,000,000 and KRW 18,000,000 per month.
For an in-depth analysis of your industry including up-to-date, expert advice on hiring employees in South Korea, contact us for a free consultation on your hiring project.
Your business can easily hire employees in South Korea without opening a local entity. We handle local employment law, complex tax regulations, and international payroll in 180+ countries worldwide. All you need to do is focus on your business.
There are two options for you to hire employees in South Korea if your budget is lower than the average salary or your candidates’ expectations.
Option 1: Increase the budget.
This may not always be possible; however, if there is room to increase the budget or if waiting to hire is not an option, you will often find suitable candidates by increasing the budget to the minimum amount requested by the suitable candidates in your pipeline.
Option 2: Expand your search to include less expensive labor markets
If the role you are searching for is not required to be based in South Korea, you may be able to find skilled candidates for less in other markets, for example the Philippines or China.
Horizons supports 180+ countries worldwide and provides expert recruitment services as an add-on to our hiring solutions.
The lowest average salary in South Korea is in Jeju province. The lower wages in Jeju are largely due to the fact that the province is largely rural with no major economic activity taking place.