Doctors enter a building at Seoul National University Hospital in Seoul on April 23, 2024. (Image courtesy of Yonhap)
SEOUL, May 16 (Korea Bizwire) – The average annual salary for doctors in South Korea surpassed 300 million won in 2022, according to government data on physician workforce and wages released on May 14.
The data, submitted by the Ministry of Health and Welfare to the Seoul High Court on May 10, represents the latest official figures compiled by the government.
It analyzes the incomes of 92,570 doctors working across all medical institutions, from local clinics to major tertiary hospitals, based on information from the National Health Insurance Service. However, it excludes interns, residents, and other trainee physicians.
The report reveals that doctors’ average annual salary rose from 208 million won in 2016 to 301 million won in 2022, reflecting a 44.7% increase over six years, with an annual growth rate of 6.4%.
The surge in earnings was particularly pronounced among private practitioners. Salaries for doctors at tertiary care hospitals, responsible for critical and emergency care, climbed from 158 million won in 2016 to 201 million won in 2022, an average annual increase of 4.1%.
During the same period, the average annual salary for doctors working at private clinics and smaller medical facilities soared from 214 million won to 345 million won, rising at an annual rate of 8.3%.
Among private practitioners, ophthalmologists topped the income ranks with an average annual salary of 615 million won, followed by orthopedic surgeons at 471 million won, otolaryngologists at 413 million won, and anesthesiologists at 391 million won.
The Ministry of Health and Welfare attributed the significant wage growth to a shortage of doctors, stating, “Due to the insufficient supply of physicians, doctors’ salaries have risen sharply, driving up labor costs in non-essential medical markets, while regional public hospitals struggle with recruitment challenges.”
M. H. Lee (mhlee@koreabizwire.com)
