If you’re working in Korea, understanding the latest on wages and allowances is essential. This knowledge can help you secure fair pay and a smooth work experience here. Let’s take a closer look at these key components of your paycheck in 2024.

1. What’s the 2024 Minimum Wage?

In 2024, the minimum hourly wage in Korea is set at 9,860 KRW, reflecting a 2.5% increase from last year’s rate. Based on a standard 40-hour work week, this means your monthly pay should be around 2,060,740 KRW. Calculating your expected daily pay is simple: multiply 9,860 KRW by the hours worked each day.

For example: If you work 8 hours a day, 5 days a week, your daily pay would be: 9,860 KRW x 8 = 78,880 KRW



If you’re exploring job opportunities or considering a change, Grabjob can assist. We help connect workers with employers across various industries and guide you through the visa application process.

2. Weekly Holiday Allowance: Extra Pay for Over 15 Hours a Week

If you work over 15 hours a week, you’re eligible for an additional weekly holiday allowance. This pay, equal to one extra day’s wage, rewards those putting in consistent effort week-to-week. So, if you’re working 8 hours a day, 5 days a week, you’ll receive an extra day's worth of pay on top of your weekly wages.

Weekly Holiday Allowance Calculation: The formula is straightforward: (Standard Daily Working Hours) x (Hourly Wage) If you work 8 hours per day for five days, your weekly holiday pay is: 8 x 9,860 KRW = 78,880 KRW

3. Night Allowance: 1.5x Pay for Late Shifts

Night shifts in Korea, between 10 PM and 6 AM, come with extra pay: 1.5 times the standard hourly wage. This means that for each night shift hour worked, you’ll earn 14,790 KRW rather than the typical 9,860 KRW. However, this allowance only applies to workplaces with five or more employees, so be sure to confirm this with your employer.

Example: If you work a five-hour shift at night, you’d earn: 5 hours x 14,790 KRW = 73,950 KRW

Know Your Rights and Ensure Fair Pay

Staying informed about minimum wage, holiday pay, and night shift compensation ensures that you’re paid fairly for your work. When starting a job, review your employment contract to ensure these entitlements are included. And if there’s an issue with any part of your compensation, you can reach out to the Ministry of Employment and Labor for assistance.

Grabjob is also here to help with any questions about wage expectations or to connect you with job opportunities that meet Korea’s standards for fair pay. With knowledge of your entitlements, you can have a more secure and empowered working experience in Korea!

To make pay calculations even easier, check out this Minimum Wage Calculator