Most foreigners in Korea earn 2 to 3 million won a month, report says

Economy

Published: 17 Apr. 2024, 18:55 Updated: 19 Apr. 2024, 09:48

Most foreigners in Korea earn 2 to 3 million won a month, report says

Foreign workers arrive in Korea at Incheon International Airport in July 2022. [NEWS1]

More than half of foreign wage workers in Korea earned between 2 million won ($1,445) and 3 million won per month last year, according to the state statistics agency.

The data were included in Statistics Korea’s annual report on migrant workers and employment status for 2023, which was released Wednesday.

The number of foreigners in Korea aged 15 and older came in at a record high of 1.43 million as of May last year, up by 129,000 or 9.9 percent on year. It also marked the biggest jump since 2012 when the relevant data were first tallied.

Men accounted for 56.8 percent and women 43.2 percent. Those from Asian countries took up 90.3 percent, with Chinese citizens of Korean descent, or joseonjok, representing 33 percent of total foreigners.

Out of the total, 64.5 percent of foreigners were employed.

A total of 50.6 percent of foreign wage workers earned between 2 and 3 million won a month on average while 35.8 percent earned 3 million or more. One-tenth, or 9.9 percent, said they earned between 1 and 2 million won.

Of the total foreign population in Korea, 32.8 percent earned 2 to 3 million won a month, 24.4 percent more than 3 million won, and 29.8 percent none.

About one out of every 10 foreigners in Korea, or 13.5 percent, have experienced financial difficulties over the past year, according to the report. Among respondents, 35 percent said worries about medical expenses prevented them from going to the hospital, and 27.3 percent said they'd been unable to pay their bills on time.

Among wage workers, 62.6 percent were satisfied, in general, with their current jobs, while 12.3 percent responded that they were willing to leave their current position for another job. Pay was the primary reason for considering a career change; 39.2 percent reported finding their current paycheck unsatisfactory while 19.4 percent cited risks or intensity associated with their positions.

Nearly half or 44.6 percent of employed foreigners worked in the mining or manufacturing industries, 12.1 percent in construction and 18.4 percent in retail, hospitality and food. Those running their own businesses or employed in the public sector accounted for 15.5 percent.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]