23.4% of workers earn under 1.5 million won

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23.4% of workers earn under 1.5 million won

A quarter of Korean employees earned less than 1.5 million won ($1,313) a month in 2015, recent government data showed.

Monthly salaries for the average Korean employee reached 3.29 million won and median salaries amounted to 2.41 million won, Statistics Korea said.

However, the data showed that 23.4 percent of Koreans earned less than 1.5 million won a month, while those working in finance and insurance-related sectors received 5.78 million won on average.

By income group, those who earn less than 800,000 won a month were 4 percent of the employee population and those who received between 850,000 won and 1.5 million won were 19.4 percent of the total. The data suggest that 23.4 percent of Koreans receive less than 1.5 million won a month.

Koreans receiving between 1.5 million won and 2.5 million won were 28.4 of the total, which means that 51.8 percent of Korean workers earn less than 2.5 million won.

The statistics agency said men earn more than women.

The average monthly salary of men was 3.9 million won, while women earned 2.36 million won. Furthermore, 35 percent of female workers received less than 1.5 million won a month.

The monthly salary was the highest for workers in their 50s at 3.86 million won, and was followed by those in their 40s (3.83 million), 30s (3.19 million won) and 60s (2.56 million won).

The statistics agency also found that salaries were highest for those with the most experience. People younger than 30 received 2.15 millionwon on average.

The average salary at big companies was higher than at smaller ones. Monthly salaries for employees working at companies with fewer than 50 people were 2.38 million won, and were 3.12 million won for companies with 50 to 300 employees.

The monthly salary for companies with more than 300 people was 4.32 million won.

By sector, those working in insurance and finance related sectors received the highest salary of 5.78 million won, followed by electronics, gas and water-related sectors with 5.46 million won.

Those who were working in the hospitality and restaurant businesses received the lowest salary, or 1.73 million won.

The statistics agency surveyed 15 million workers who were insured under the national health care and pension services.

BY KIM YOUNG-NAM [kim.youngnam@joongang.co.kr]
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