The Korea Herald


[Graphic News] Koreans’ average salary ranks low in OECD

By Nam Kyung-don

Published : Nov. 12, 2017 - 17:59

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The average annual salary of South Koreans ranked mid to low among major economies last year, with its growth rate over the past six years also hovering below the median, a report said.

According to a report by Rep. Park Kwang-on of the ruling Democratic Party of Korea, South Koreans earned an average of $29,125 in 2016, the 23rd-highest among the 34 member nations of the Organization for Economic Cooperation and Development, excluding Turkey.

Switzerland topped the list with an average annual salary of $85,718, followed by Iceland with $73,609, the United States with $60,154 and Australia with $59,538.

The average growth rate of South Koreans’ salaries was also much lower than the OECD average between 2010 and 2016.