According to data released by the Korean Statistical Information Service (KOSIS) on Monday, some 3.71 million people earned an average monthly wage of at least 5 million won including bonuses and before taxes in the second half of 2024, up 296,000 from a year earlier.
They accounted for 16.5 percent of the country's 22.49 million salaried workers, the highest share since the agency began compiling the relevant statistics in 2013.
But the figures showed widening wage gaps between industries. Manufacturing, the backbone of the country's economy with 3.95 million workers, had the highest share of high-income earners.
Some 948,000 manufacturing workers or 24 percent earned more than 5 million won per month, while more than two-thirds or 68.2 percent earned at least 3 million won a month.
In contrast, workers in the health and social welfare sector had significantly lower wages. Only 5.4 percent of workers in the industry earned more than 5 million won per month, while more than 75 percent earned less than 3 million won a month.
The disparity is particularly notable as the sector continues to expand in the labor market. Although overall job growth has slowed recently, health and social welfare added 212,000 jobs over the past year, driven by rising demand for healthcare and caregiving services as South Korea's population ages.
Analysts say the figures suggest that while healthcare and welfare jobs are expanding rapidly, working conditions and pay remain relatively weak compared with other industries.
Most high-income workers were employed mainly in high-skilled industries, led by the financial and insurance sector at 38 percent, followed by professional, scientific and technical services at 35.8 percent and information and communications technology (ICT) at 34.8 percent.
Experts warn that wage gaps between industries could widen further as South Korea's semiconductor-driven manufacturing sector continues to strengthen, with higher performance-based bonuses expected to push wages up and increase income gaps.
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