Ulsan Has Highest Average Salary Among Korean Cities, with Significant Gap from Lowest-Paying Jeju

Ulsan has emerged as the city with the highest average salary for office workers. (Image courtesy of Yonhap)

SEJONG, Jan. 22 (Korea Bizwire) — In South Korea, Ulsan has emerged as the city with the highest average salary for office workers, significantly outpacing other regions including Jeju, which has the lowest wages among the 17 cities and provinces.

This disparity was highlighted in a report by Yang Kyung-sook, a member of the National Assembly’s Planning and Finance Committee, based on the ‘Year-end Tax Settlement Report on Employment Income by City and Province’ obtained from the National Tax Service. 

In 2022, the average total annual salary for a worker in Ulsan was 47.36 million won, the highest among the 17 cities and provinces. Ulsan, home to several major corporations, maintained the top spot for the second consecutive year, following its 2021 average salary of 45.01 million won. 

On the other hand, Jeju recorded the lowest average salary at 35.7 million won. This continuation of a trend from previous years in 2020 and 2021 further widened the salary gap between Ulsan and Jeju to 11.66 million won, an increase from the 10.84 million won difference in 2021.

Seoul held the second-highest average salary at 46.83 million won, experiencing the largest increase among the 17 regions with a 12.3% (5.11 million won) rise compared to two years ago. 

Following Seoul, Sejong, known for its high concentration of government employees, and Gyeonggi Province ranked high with average salaries of 44.92 million won and 42.81 million won, respectively.

Regions with average salaries below 40 million won included Jeju, Gangwon, Daegu, North Jeolla, Busan, Gwangju, and North Chungcheong, among others. 

The total salary amount is calculated by deducting non-taxable income such as meal expenses from the annual employment income. It serves as the basis for year-end settlements and various deductions.

Assembly member Yang emphasized the need to prevent further widening of regional income disparities, urging efforts for balanced development through regional growth drivers and attracting businesses to create quality jobs.

M. H. Lee (mhlee@koreabizwire.com)