Today's Korean Minimum Wage in USD
USD Min. Wage Trend · 1988–Today
Quarterly avg + recent monthly + today live — peak $7.83 → today $6.62
Global Purchasing Power — What can Korean wages buy locally?
How far Korea's minimum wage (₩10,320) goes in each country — switch between local and Korea tabs to compare
1 Big Mac = 55 min of work
$6.12 (United States)
Purchasing Power — How long to buy one?
How many hours of minimum wage (2026 ₩10,320) to buy one item — tap a tab to switch
One bowl = 50 min of work
1 bowl = ₩8,654
Seoul dining avg ₩8,654 (2026, Korea Consumer Agency)
Hours needed over the years — Hours to afford one item per year — item price / hourly wage of that year
Breakdown — KRW Minimum Wage
Applied rate ₩1,558.09 / $1Steps up once each January — never once cut (shown as a smooth trend)
USD Wage Rankings
Based on annual average FX rate — 1988–2025
▲ TOP 5Highest years
| Year | USD | KRW |
|---|---|---|
| 2021 | $7.62 | ₩8,720 |
| 2023 | $7.37 | ₩9,620 |
| 2020 | $7.28 | ₩8,590 |
| 2024 | $7.23 | ₩9,860 |
| 2019 | $7.17 | ₩8,350 |
▼ BOTTOM 5Lowest years
| Year | USD | KRW |
|---|---|---|
| 1988 | $0.63 | ₩462.5 |
| 1989 | $0.89 | ₩600 |
| 1990 | $0.98 | ₩690 |
| 1998 | $1.09 | ₩1,525 |
| 1991 | $1.12 | ₩820 |
Frequently Asked Questions
Which year was Korea's minimum wage highest in USD?
2021, at $7.62 — the highest ever. This is the USD-converted value, which factors in the exchange rate, not just the KRW wage.
Which year was Korea's minimum wage lowest in USD?
1988, at $0.63 — the lowest on record. That's a year when the USD was strong or the KRW wage itself was small.
The KRW wage rose every year — did it always rise in USD too?
No — the KRW wage was raised every year, but exchange rates pushed the USD value below the prior year in 9 of them.
Has Korea's minimum wage ever been frozen or cut?
Never cut — it rose from 462.5 KRW in 1988 to 10,320 KRW in 2026 with no reduction, and was frozen only once (in 2009).
How many times the lowest is the highest year in USD?
About 12.1×. The same Korean minimum wage spreads this much in USD terms depending on the exchange rate.
How far back does the data go?
Since 1988 — 38 years of year-by-year converted values.
How many Big Macs can today's minimum wage buy in New York?
About 1.2 at the recent exchange rate — one hour of Korea's minimum wage divided by the local Big Mac price in New York.