The concentration of high-paying jobs in the capital region was evident, with 54.3% of the top 1% earners — 111,601 out of 205,396 workers — employed in Seoul, Gyeonggi Province, or Incheon. (Yonhap)
SEOUL, Oct. 25 (Korea Bizwire) – Data released by South Korea’s National Tax Service has revealed significant income disparities among the country’s workforce, with the average annual salary standing at 41.23 million won while top earners command substantially higher wages, particularly in the capital region.
According to figures obtained by Representative Ahn Do-geol of the Democratic Party from the National Tax Service on October 25, South Korea had 20.53 million wage earners in 2022, with total compensation reaching 865.47 trillion won. The data shows the top 1% of wage earners made an average of 331.34 million won annually.
The analysis revealed stark regional disparities, with Seoul’s top 1% earning 560 million won annually, the highest in the nation, followed by Gyeonggi Province at 308.17 million won. Only two regions recorded top 1% earnings below 200 million won: Gangwon Province (187.56 million won) and North Jeolla Province (197.57 million won).
The concentration of high-paying jobs in the capital region was evident, with 54.3% of the top 1% earners — 111,601 out of 205,396 workers — employed in Seoul, Gyeonggi Province, or Incheon.
The disparity becomes even more pronounced among the top 0.1% of earners. These 20,539 individuals averaged 987.98 million won annually, with Seoul again leading at 1.92 billion won, followed by Gyeonggi Province (811.19 million won), Busan (764.26 million won), and Jeju (701.93 million won).
“The data confirms a significant Seoul-centric income concentration, with top 1% earners in Seoul making more than double their regional counterparts,” Ahn noted. He emphasized the need to expand high-value-added industries beyond the capital region to create more quality, high-paying jobs in other areas.
Ashley Song (ashley@koreabizwire.com)
