Compensation of employees (current LCU) in South Korea
South Korea: Compensation of employees (current LCU) was 62.92 trillion current LCU in 2024. ◆ Volatile
Compensation of employees in South Korea, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, compensation of employees in South Korea stood at 62.92 trillion current LCU. That is the highest value across all 53 years on record.
The figure is up 5.0% on the previous year and up 65.0% over ten years.
Over the whole period, compensation of employees in South Korea peaked at 62.92 trillion current LCU in 2024 and was at its lowest, 112.00 billion current LCU, in 1972.
That places South Korea 4th out of 156 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Compensation of employees (current LCU) in South Korea, year by year
| Year | current LCU | Change |
|---|---|---|
| 1972 | 112.00 billion current LCU | — |
| 1973 | 114.00 billion current LCU | +1.8% |
| 1974 | 150.00 billion current LCU | +31.6% |
| 1975 | 225.00 billion current LCU | +50.0% |
| 1976 | 350.00 billion current LCU | +55.6% |
| 1977 | 477.00 billion current LCU | +36.3% |
| 1978 | 603.00 billion current LCU | +26.4% |
| 1979 | 778.00 billion current LCU | +29.0% |
| 1980 | 1.05 trillion current LCU | +35.3% |
| 1981 | 1.30 trillion current LCU | +23.4% |
| 1982 | 1.49 trillion current LCU | +14.3% |
| 1983 | 1.68 trillion current LCU | +12.9% |
| 1984 | 1.76 trillion current LCU | +4.8% |
| 1985 | 1.89 trillion current LCU | +7.7% |
| 1986 | 2.06 trillion current LCU | +8.9% |
| 1987 | 2.25 trillion current LCU | +9.0% |
| 1988 | 2.59 trillion current LCU | +15.4% |
| 1989 | 3.00 trillion current LCU | +15.8% |
| 1990 | 3.78 trillion current LCU | +25.8% |
| 1991 | 4.54 trillion current LCU | +20.2% |
| 1992 | 5.38 trillion current LCU | +18.4% |
| 1993 | 6.00 trillion current LCU | +11.6% |
| 1994 | 6.76 trillion current LCU | +12.8% |
| 1995 | 8.59 trillion current LCU | +27.0% |
| 1996 | 9.35 trillion current LCU | +8.9% |
| 1997 | 10.09 trillion current LCU | +7.9% |
| 1998 | 10.01 trillion current LCU | -0.8% |
| 1999 | 10.06 trillion current LCU | +0.5% |
| 2000 | 11.15 trillion current LCU | +10.9% |
| 2001 | 12.39 trillion current LCU | +11.1% |
| 2002 | 13.81 trillion current LCU | +11.4% |
| 2003 | 15.15 trillion current LCU | +9.7% |
| 2004 | 18.21 trillion current LCU | +20.2% |
| 2005 | 19.54 trillion current LCU | +7.3% |
| 2006 | 20.73 trillion current LCU | +6.1% |
| 2007 | 21.73 trillion current LCU | +4.8% |
| 2008 | 22.93 trillion current LCU | +5.5% |
| 2009 | 23.49 trillion current LCU | +2.5% |
| 2010 | 23.95 trillion current LCU | +2.0% |
| 2011 | 25.50 trillion current LCU | +6.5% |
| 2012 | 34.80 trillion current LCU | +36.5% |
| 2013 | 36.59 trillion current LCU | +5.1% |
| 2014 | 38.14 trillion current LCU | +4.2% |
| 2015 | 40.16 trillion current LCU | +5.3% |
| 2016 | 42.99 trillion current LCU | +7.1% |
| 2017 | 45.30 trillion current LCU | +5.4% |
| 2018 | 48.35 trillion current LCU | +6.7% |
| 2019 | 50.92 trillion current LCU | +5.3% |
| 2020 | 53.77 trillion current LCU | +5.6% |
| 2021 | 55.93 trillion current LCU | +4.0% |
| 2022 | 57.65 trillion current LCU | +3.1% |
| 2023 | 59.94 trillion current LCU | +4.0% |
| 2024 | 62.92 trillion current LCU | +5.0% |
South Korea compared with similar countries
- South Korea's 62.92 trillion current LCU is above the median for high income countries, which is 23.97 billion current LCU, 2625.1× the median. (57 countries reporting)
- South Korea's 62.92 trillion current LCU is above the median for East Asia & Pacific, which is 23.59 billion current LCU, 2667.5× the median. (25 countries reporting)
Biggest year-on-year movements
Years where Compensation of employees (current LCU) in South Korea changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1976 | +55.6% | 225.00 billion current LCU | 350.00 billion current LCU |
| 1975 | +50.0% | 150.00 billion current LCU | 225.00 billion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 351.12 billion current LCU | 112.00 billion current LCU | 778.00 billion current LCU | 8 |
| 1980s | 1.91 trillion current LCU | 1.05 trillion current LCU | 3.00 trillion current LCU | 10 |
| 1990s | 7.45 trillion current LCU | 3.78 trillion current LCU | 10.09 trillion current LCU | 10 |
| 2000s | 17.91 trillion current LCU | 11.15 trillion current LCU | 23.49 trillion current LCU | 10 |
| 2010s | 38.67 trillion current LCU | 23.95 trillion current LCU | 50.92 trillion current LCU | 10 |
| 2020s | 58.04 trillion current LCU | 53.77 trillion current LCU | 62.92 trillion current LCU | 5 |
Countries ranked near South Korea
More public sector data for South Korea
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- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
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Frequently asked questions
- What is compensation of employees in South Korea?
- Compensation of employees in South Korea was 62.92 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest compensation of employees recorded in South Korea?
- The highest recorded value was 62.92 trillion current LCU in 2024.
- What is the lowest compensation of employees recorded in South Korea?
- The lowest recorded value was 112.00 billion current LCU in 1972.
- How does South Korea rank for compensation of employees?
- South Korea ranks 4th out of 156 countries with data for 2024.
- Is compensation of employees rising or falling in South Korea?
- Over the last ten years it is up 65.0%. The long-run trend across the full record is volatile.
- Where does this South Korea data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Compensation of employees (current LCU). Statizoid updates them automatically from the source API.
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About this data
Compensation of employees is defined as the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.