Real minimum wages at constant prices β Statutory minimum wages in Korea
Korea: Real minimum wages at constant prices β Statutory minimum wages was 17,685 US dollars, exchange rate converted in 2025. β² Rising
Real minimum wages at constant prices β Statutory minimum wages in Korea, 1988β2025
Source: Organisation for Economic Co-operation and Development. Measured in US dollars, exchange rate converted.
Analysis
The most recent figure for real minimum wages at constant prices β statutory minimum wages in Korea is 17,685 US dollars, exchange rate converted, measured in 2025.
That represents a change of down 0.4% on the previous year and up 46.2% over ten years.
Over the whole period, real minimum wages at constant prices β statutory minimum wages in Korea peaked at 17,754 US dollars, exchange rate converted in 2024 and was at its lowest, 3,345 US dollars, exchange rate converted, in 1988.
The long-run direction has been consistently rising across the 38 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 3,671 US dollars, exchange rate converted | 3,345 US dollars, exchange rate converted | 3,997 US dollars, exchange rate converted | 2 |
| 1990s | 5,019 US dollars, exchange rate converted | 4,233 US dollars, exchange rate converted | 5,580 US dollars, exchange rate converted | 10 |
| 2000s | 8,373 US dollars, exchange rate converted | 5,944 US dollars, exchange rate converted | 10,598 US dollars, exchange rate converted | 10 |
| 2010s | 12,518 US dollars, exchange rate converted | 10,256 US dollars, exchange rate converted | 17,259 US dollars, exchange rate converted | 10 |
| 2020s | 17,633 US dollars, exchange rate converted | 17,484 US dollars, exchange rate converted | 17,754 US dollars, exchange rate converted | 6 |
Countries ranked near Korea
- 1 Luxembourg 36,365 US dollars, exchange rate converted compare
- 2 United Kingdom 32,912 US dollars, exchange rate converted compare
- 3 Ireland 31,730 US dollars, exchange rate converted compare
- 4 Australia 31,225 US dollars, exchange rate converted compare
- 5 Germany 29,303 US dollars, exchange rate converted compare
More economy & growth data for Korea
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.03 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.2 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 16 - Public finances 24.21 Percentage of GDP (2029)
- Corporate income tax (CIT) - statutory and targeted small business 27.5 Percentage of taxable income (2026)
- Global Revenue Statistics - Reference series β Gross domestic 1.71 million US dollar (2023)
- Africa's Development Dynamics (AfDD) Table 08 - Sectoral breakdown of 9.68 Percentage of GDP (2022)
- Africa's Development Dynamics (AfDD) Table 17 - Trade by 507,113 US dollar (2022)
- Environmentally related tax revenue 1.38 Percentage of GDP (2023)
- Global Revenue Statistics - Comparative tax revenues 25.33 Percentage of GDP (2024)
- Africa's Development Dynamics (AfDD) Table 28 - International trade 78.81 Percentage of merchandise value (2020)
Frequently asked questions
- What is real minimum wages at constant prices β statutory minimum wages in Korea?
- Real minimum wages at constant prices β statutory minimum wages in Korea was 17,685 US dollars, exchange rate converted in 2025, according to Organisation for Economic Co-operation and Development.
- What is the highest real minimum wages at constant prices β statutory minimum wages recorded in Korea?
- The highest recorded value was 17,754 US dollars, exchange rate converted in 2024.
- What is the lowest real minimum wages at constant prices β statutory minimum wages recorded in Korea?
- The lowest recorded value was 3,345 US dollars, exchange rate converted in 1988.
- How does Korea rank for real minimum wages at constant prices β statutory minimum wages?
- Korea ranks 2nd out of 9 groups with data for 2025.
- Is real minimum wages at constant prices β statutory minimum wages rising or falling in Korea?
- Over the last ten years it is up 46.2%. The long-run trend across the full record is rising.
- Where does this Korea data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Real minimum wages at constant prices β Statutory minimum wages. Statizoid updates them automatically from the source API.
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About this data
Real minimum wages are statutory minimum wages converted into a common hourly and annual pay period for the 30 OECD countries and two other non-member countries for which they are available. Real hourly and annual minimum wages are calculated first by deflating the series using the consumer price index taking 2024 as the base year then converted into common currency units 1) US dollars (USD) and 2) USD using Purchasing Power Parities (PPPs) for private consumption expenditures in 2024.