Income from wage jobs the year before last increased 3.3%. This is the second-smallest increase on record after 2023 (2.7%) since related statistics began in 2016.
The Ministry of Data and Statistics (MODS) said on the 23rd that, according to "2024 wage job income (pay)," the average monthly pre-tax income of workers employed in wage jobs as of December the year before last was 3.75 million won. That was up 120,000 won from a year earlier.
The average income growth rate was ▲2017 3.5% ▲2018 3.4% ▲2019 4.1% ▲2020 3.6% ▲2021 4.1% ▲2022 6% ▲2023 2.7%.
Median income was 2.88 million won per month, up 3.6% (100,000 won) from a year earlier. The median income growth rate slowed from 2023 (4.1%).
By size of corporations, average income at large corporations was 6.13 million won per month, up 3.3% (200,000 won) from the previous year. The average income of workers at small and midsize corporations was 3.07 million won, up 3% (90,000 won), a twofold gap with large-corporation income.
The gender income gap widened. In 2024, the average income of male workers was 4.42 million won, up 3.6% (150,000 won) from a year earlier. The average income of female workers was 2.89 million won, up 3.6% (100,000 won). Male workers earned 1.5 times more than female workers.
By age group, income was highest for ▲those in their 40s (4.69 million won) ▲50s (4.45 million won) ▲30s (3.97 million won), in that order. A notable feature of this release is that age-specific income, which had previously combined those 60 and older, began to be tabulated separately for those in their 60s and 70s. In particular, income for those 70 and older rose 5.8% from the previous year, the largest increase among all age groups. This is seen as a result of an increase in older people who work.