Over Half of Top 100 Firms Pay Average Salary of Over 100 Mln Won in 2024: Data

This Jan. 31, 2025, file photo shows the entrance of the Samsung Electronics Co. headquarters in southern Seoul.

(Image courtesy of Yonhap) SEOUL, March 31 (Korea Bizwire) — More than half of South Korea’s top 100 companies paid their employees an average annual salary of more than 100 million won (US$67,981) in 2024, industry data showed Monday. An analysis by Yonhap News Agency of the latest business reports from the 100 largest non-financial firms by sales showed that 55 companies had an average annual employee salary of over 100 million won last year. Last year’s tally marks a sixfold increase from nine companies in 2019.



All of the top 10 companies by sales were included in the so-called 100 million-won salary club. Samsung Electronics Co. posted an average salary of 130 million won, followed by Hyundai Motor Co.

at 124 million won, SK Inc. at 116 million won, Kia Corp. at 136 million won and LG Electronics Inc.

at 117 million won. Other firms with high earners included SK Innovation Co. at 158 million won, POSCO Holdings Co.

at 148 million won and SK hynix Inc. at 117 million won. By corporate structure, holding companies had higher average salaries than their subsidiaries, largely because they have fewer employees and a higher ratio of executives, according to the data.

(Yonhap).