South Korea's foreign workforce hits record high, but wages lag behind

By Phan Anh March 26, 2025 | 10:40 pm PT

Pedestrians cross a road in front of the Bank of Korea headquarters in Seoul. Photo by AFP

Despite a record-high number of foreign residents in South Korea, nearly two-thirds (63%) of foreign workers earn below the national average monthly salary of ₩3.33 million (US$2,270), according to recent government data.

Statistics released by Statistics Korea and the Ministry of Justice on March 18 show that the foreign resident population aged 15 and older reached an unprecedented 1.561 million by the end of 2024, marking a 9.1% increase from the previous year, the Chosun Daily reported.

Among these foreign residents, 57.8% were men, primarily relocating for employment opportunities, while the remaining 42.2% were women, largely coming for marriage or educational purposes.

The majority of foreign wage earners (51.2%) received salaries ranging between ₩2 million and ₩3 million per month. Additionally, 8.4% earned between ₩1 million and ₩2 million, while another 3.3% earned less than ₩1 million monthly.

The average employee in South Korea earns ₩3.33 million per month according to a national survey, the SCMP reported.

International students comprise a significant portion of the lowest-earning group, highlighting ongoing educational and financial hurdles faced by this demographic. Higher earnings, those exceeding ₩3 million per month, are mainly associated with permanent residents (55.2%) and overseas Koreans (46.1%).

An overwhelming majority (91%) of South Korea’s foreign residents hail from Asian nations, with Vietnamese citizens accounting for approximately 15% of this demographic.