Economist Salary in South Korea: What You Need to Know
Economists in South Korea earn an estimated $67,415 USD per year, which is approximately ₩88,987,800 KRW at current exchange rates. This places South Korea at #20 out of 42 countries in our global salary ranking for this occupation.
Compared to the United States, where Economists earn an estimated $115,000 USD per year, the salary in South Korea is 41% lower. This difference reflects variations in local economies, cost of living, labor market conditions, and industry demand for Economists in South Korea.
Purchasing Power and Cost of Living
While nominal salary figures provide a useful starting point, they don't tell the full story. When adjusted for purchasing power parity (PPP), the salary for a Economist in South Korea is equivalent to $142,978 USD. This means that after accounting for differences in the cost of goods and services, the real buying power of this salary is actually higher than the nominal figure suggests, indicating a relatively lower cost of living in South Korea.
To put this in more tangible terms, using The Economist's Big Mac Index as an informal measure of purchasing power, a Economist's annual salary in South Korea could buy approximately 13,702 Big Macs per year. This everyday comparison helps illustrate the real-world purchasing power of this salary beyond abstract currency conversions.
How South Korea Compares Globally
Among the 42 countries we track, a Economist in South Korea earns more than 55% of Economists worldwide. The highest-paying country for this role is United States at $110,400 USD, while the lowest is India at $12,264 USD.
These estimates are derived from publicly available data from the U.S. Bureau of Labor Statistics (BLS), OECD average wages, World Bank purchasing power parity factors, and The Economist's Big Mac Index. The salary for each country is calculated by adjusting the U.S. baseline salary using country-specific wage ratios and sector multipliers. While these figures provide a useful benchmark, actual salaries can vary significantly based on experience level, company size, specific city or region, education, and industry sector.