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More than half of Korea’s top 100 companies paid employees more $68,000 in 2024

Published: 31 Mar. 2025, 11:09 Updated: 31 Mar. 2025, 14:38

The Samsung Electronics headquarters in southern Seoul. [YONHAP]

More than half of Korea's top 100 companies paid their employees an average annual salary of more than 100 million won ($68,000) in 2024, industry data showed Monday.

An analysis by Yonhap News Agency of the latest business reports from the 100 largest nonfinancial firms by sales showed that 55 companies had an average annual employee salary of over 100 million won last year.

Last year's tally marks a sixfold increase from nine companies in 2019.

All of the top 10 companies by sales were included in the so-called 100 million won salary club.

Samsung Electronics posted an average salary of 130 million won, followed by Hyundai Motor at 124 million won, SK Group at 116 million won, Kia at 136 million won and LG Electronics at 117 million won.

Other firms with high earners included SK Innovation at 158 million won, Posco Holdings at 148 million won and SK hynix at 117 million won.

By corporate structure, holding companies had higher average salaries than their subsidiaries, largely because they have fewer employees and a higher ratio of executives, according to the data.