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Minimum wage
in South Korea.

  • Learn about the minimum wage in South Korea thanks to Horizons’ up-to-date guide.
  • Horizons is where real, local hiring expertise meets world-class customer service. Quickly and compliantly hire employees in more than 185 countries worldwide, without the need to open a local entity.

SALARY PAYMENT IN South Korean Won (KRW, ₩)

CONTRACT LANGUAGES Korean / English

PAYROLL TAX 16.43% – 34.94%

PAYROLL CYCLE Monthly

TIME TO HIRE 24 hours

Horizons-owned entity with local country experts in Seoul.
Horizons entity<img Class="plus" src="/wp-content/uploads/2022/10/plus.svg"> <img Class="minus" src="/wp-content/uploads/2022/10/minus.svg">
Horizons entity
We offer fair, scalable, and transparent pricing on South Korea PEO service. Contact us for a cost breakdown
Fair pricing <img Class="plus" src="/wp-content/uploads/2022/10/plus.svg"> <img Class="minus" src="/wp-content/uploads/2022/10/minus.svg">
Fair pricing
End service in South Korea with no additional penalties or fees.
Flexible terms<img Class="plus" src="/wp-content/uploads/2022/10/plus.svg"> <img Class="minus" src="/wp-content/uploads/2022/10/minus.svg">
Flexible terms
Including vision, dental, death & disability, travel, and more.
Insurance add-ons<img Class="plus" src="/wp-content/uploads/2022/10/plus.svg"> <img Class="minus" src="/wp-content/uploads/2022/10/minus.svg">
Insurance add-ons
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Hire and pay talents
with Horizons in
180+ countries

South Korea

What is the minimum wage in South Korea per hour?

In 2023 the minimum hourly wage in South Korea is KRW 9,620. 

Are there regional variations in South Korea minimum wage?

No. South Korea’s minimum wage applies to all industries across the country at large. 

South Korea’s Minimum Wage Commission is made up of representatives from employee groups, private sector employers and the public sector in order to give voices to each key stakeholder group. 

How has minimum wage in South Korea changed in the last 5 years and beyond?

The minimum wage in South Korea has increased from KRW 7,530 in 2018 to KRW 9,620 per hour in 2023. 

Although South Korea’s minimum wage has increased in the 5 years between 2018 and 2023, the rate of on-year increase has fluctuated, and primarily follows a downward trend. 

In 2017/18, the on-year increase was 16.4%, falling to 10.9% in 2018/19, then 2.9% in 2019/20 and 1.5% in 2020/21. In 2021/22 the on-year increase rose to 5.1% where it has remained in 2023. 

DateMin. wage, hourly  rate (KRW)
20239,620
20229,160
20218,720
20208,590
20198,350
20187,530
20176,470
20166,030

How does the minimum wage in South Korea compare to surrounding countries?

In comparison to the surrounding countries, South Korea’s hourly minimum wage is slightly higher than Japan’s and considerably higher than China’s hourly minimum wage:

  • South Korea: KRW 9,620 ≈$7.29
  • Japan: JPY 931 ≈$6.81
  • China (Beijing): CNY 25.3 ≈$3.63

 

Is there a different minimum wage for expats in South Korea?

No. South Korea’s Minimum Wage Act (1986) applies to all businesses, regardless of industry. 

Furthermore, the minimum wage applies to all employees, as defined by the Labor Standards Act (1997), regardless of nationality or status i.e. part-time, temporary or foreign workers.

Hiring in South Korea, Made Easy

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.

Get a free consultation today

FAQs

The average salary in South Korea is KRW 47,145,828 per year. The minimum wage in South Korea is estimated by the Korean government as KRW 24,126,960 per year, assuming regular working hours.

It is highly unlikely that skilled employees will accept a salary that is close to South Korea’s minimum wage. This is especially true in larger cities, such as Seoul, Busan or Incheon.

Success stories from businesses we’ve helped enter and grow in new markets.

Client Testimonials

"As a seed-stage, London-based startup, we were initially hesitant to expand internationally due to the administrative workload involved. Horizons completely took the headache out of the process, allowing us to hire a team of software engineers in Germany."
Gabor SzedlakCo-founder & COO
Gabor
"I truly appreciated the thoroughness and the professionalism of Horizons personnel while we hired internationally with them. When they advised our international expansion, they spoke confidently and were knowledgable on all subject matters pertaining to international employment."
Gary PaskyVice President of Software Development
Gary
"On deciding to begin commercial activities in Asia Pacific, we needed a provider to handle the employment and remuneration of our workforce. With Horizons the result was fast, efficient, and fit-for-purpose. We recommend Horizons as an EOR provider.”
Chris MorrellManaging Director
Chris Morrell
"The collaboration with the Horizons team is excellent. Both our local employee as well as our HQ in Germany are more than pleased with the support provided and the simplicity of the service. We can highly recommend the Horizons solution to anyone."
Christoph EngelbertCo-Founder & CTO
Christoph
"We needed an EOR that could provide expert support for payroll in APAC. We are pleased with Horizons’ expertise and the fact that they are flexible, responsive, and easily accessible from Belgium. They were able to provide services within the short timeline we required."
Katia FlamandHuman Resources
Katia
Horizons has been very effective in providing our company support in all the administrative procedures, sometimes complex, required by the Singaporean administration.
Gerald iannoneSales Director
Gerald iannone
Horizons’ team provided a superb service from start to finish, making a complex process a simple one. Everything was taken care of in an efficient and accurate manner, with quick communication whenever required. Highly recommended and would use again in the future if the need arises.
Philipp RinbergerManaging Director
Philipp Rinberger
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