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Annual Salary at 100 Largest Korean Companies Averages 77.41 Million Won
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Annual Salary at 100 Largest Korean Companies Averages 77.41 Million Won
  • By Jung Suk-yee
  • April 4, 2016, 02:30
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The average annual salary at South Korea's 100 largest companies was estimated at 77.41 million won (US$67,196) in 2014.
The average annual salary at South Korea's 100 largest companies was estimated at 77.41 million won (US$67,196) in 2014.

 

The average annual salary at South Korea's 100 largest companies in terms of sales was estimated at 77.41 million won (US$67,196) as of 2014, according to the data compiled by job portal Saramin. The figure is based on the data from 80 out of the top 100 firms which submitted business reports to the Data Analysis, Retrieval and Transfer System of the Financial Supervisory Service.

Employees at NH Investment & Securities Co. had the highest salary per person at 120 million won (US$104,167), trailed by chemical maker Yeochun NCC Co. with 107.4 million won (US$93,229). Korean Reinsurance Company posted 107 million won (US$92,882), followed by SK Energy Co., SK Telecom Co. and Samsung Electronics Co. with 101 million won (US$87,674) each. Oil refinery GS-Caltex Corp. and Kia Motors Corp. were also among the top 10 firms with paychecks of 99.86 million won (US$86,684) and 97 million won (US$84,201), respectively, while S-Oil Corp. and Hyundai Motor Co. had the average salary at 97.34 million won (US$84,497) and 96 million won (US$83,333).

Of the companies surveyed, 27, or 33.8 percent, paid salaries of 70 to 80 million won (US$60,764 to 69,444), while 6, or 7.5 percent, paid more than 100 million won (US$86,806). Only 3 companies, or 3.8 percent, paid less than 40 million won (US$34,722).

At 49 companies which posted the average annual salary separately by gender, male employees received about 90.06 million won (US$78,177), while female workers got 54.81 million won (US$47,578), showing the wage gap of 35.25 million won (US$30,599).

Of the 49 companies surveyed, 14, or 28.6 percent, paid over 100 million won (US$86,806) on average to male employees. Korean Reinsurance had the highest salary at 118 million won (US$102,431), followed by Samsung Fire & Marine Insurance Co. with 117.99 million won (US$102,422), KEB Hana Bank with 114 million won (US$98,958), Samsung Electronics with 110 million won (US$95,486), Citibank Korea with 110 million won (US$95,486) and SK Hynix Inc. with 106.88 million won (US$92,778).

Korean Reinsurance also had the highest annual salary to female employees with 81 million won (US$70,313), followed by Samsung Electronics with 75 million won (US$65,104), Kia Motors with 75 million won (US$65,104), Hyundai Motor with 74 million won (US$64,236), SK Telecom with 73 million won (US$63,368) and Citibank Korea with 70 million won (US$60,764).