The monthly salary of employees up by 4.1% in 2021

By Kang Yoon-seung

SEOUL, 28 Feb. (Yonhap) — The average monthly salary of a employees in South Korea rose 4.1% year-on-year in 2021, data showed on Tuesday, thanks to higher wages in the finance and energy sectors.

Workers in Asia’s fourth-largest economy earned an average of 3.3 million won ($2,669) per month in December 2021, up from 3.2 million won a year earlier, according to the Statistics Korea report.

The average salary for the middle-income bracket was 2.5 million won, up 3.3 percent from a year earlier.

The figure for conglomerate workers reached 5.63 million won, up 6.6 percent year on year. Those of small and medium enterprises brought in 2.66 million won, up 2.9 percent over the period.

Workers in the finance and insurance sector reported the highest monthly salary of 7.26 million won, up 10 percent year on year.

Those in the electricity and gas industry also rose 0.8 percent to 6.63 million won.

The monthly salary of male employees increased 4.7% year-on-year to 3.89 million won in December 2021. It was 1.5 times higher than the 2.56 million won of female employees, which increased by 3.7%.

Citizens and office workers walk on a sidewalk in central Seoul on Feb. 27, 2023. (Yonhap)

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#monthly #salary #employees