SEOUL, Dec. 28 (Korea Bizwire) – The number of wage earners who make more than 100 million won (US$82,860) a year rose sharply from a year earlier in 2015, nearing 600,000 and accounting for 3.4 percent of all income earners, the tax office said Wednesday.
In its annual report, the National Tax Service said the number of income earners who filed year-end tax adjustment reports came to 17.33 million in 2015.
Out of the total, 596,000 said their annual salaries topped 100 million won, up 13.3 percent from the previous year.
The combined income of the high-income earners accounted for 15.8 percent of total income, while their combined taxes accounted for 52.2 percent of the total, it added.
The average income of all wage earners came to 32.5 million won in 2015, up 2.5 percent from a year earlier.
The report said the number of workers who were given complete tax exemption due to low income came to 8.1 million, or 46.8 percent of those who filed tax adjustment reports.
The figure marks a drop of 1.3 percentage points from the previous year.
The number of foreign workers who filed tax adjustment reports surged 7.1 percent on-year to some 544,000 in 2015, apparently helped by a steady increase in the number of foreign workers here.
The average annual income of those foreign workers came to 23.3 million won, up 1.7 percent from the previous year, according to the report.
In addition to wage earners, some 5.48 million people filed composite income tax reports, which are required when their income includes financial income.
The average income of those with financial and earned income came to 267 million won, while 3,676 people reported their financial income alone exceeded 500 million won, the report said.