In the first half of this year, the average monthly wage for full-time workers in South Korea rose by 3.1% compared to the previous year, driven by increased bonuses in the semiconductor sector. The average monthly wage in the electronics and telecommunications industry, which includes semiconductors, reached 9,434,000 won, more than double the average in other sectors.
The Korea Employers Federation released an analysis on September 20 based on the Ministry of Employment and Labor's workplace labor force survey, detailing wage increases by size and industry for the first half of 2026. According to the survey, the average monthly wage for full-time workers was 4,318,000 won, an increase of 3.1% from the same period last year. This translates to an increase of approximately 131,000 won, of which 42,000 won was attributed to the rise in special bonuses in the electronics and telecommunications sector. However, the overall increase rate was 0.4 percentage points lower than last year's 3.5%.
The wage growth was primarily driven by bonuses rather than base salaries. The increase rate for fixed salaries, including base pay and regular allowances, fell from 2.9% in the first half of last year to 2.2% this year. In contrast, the increase rate for special bonuses and fixed allowances rose from 8.1% to 9.3%.
As a result, the average monthly special bonus reached 601,000 won, the highest since related statistics began in 2011. This follows increases from 509,000 won in the first half of 2024 and 550,000 won last year.
By company size, businesses with more than 300 employees saw a notable wage increase. The average monthly wage in these companies rose by 4.8% compared to the same period last year, while companies with fewer than 300 employees experienced a 2.1% increase. However, both sizes saw a slowdown compared to last year's increases of 5.7% and 2.7%, respectively.
In companies with over 300 employees, the increase rate for special bonuses rose from 12.8% last year to 14.7% this year, while the increase rate for fixed salaries dropped from 3.4% to 1.4%. The average monthly special bonus in these companies was 1,824,000 won, an increase of 234,000 won from the previous year, surpassing the previous high of 1,661,000 won in the first half of 2022. In contrast, companies with fewer than 300 employees saw fixed salary and special bonus increase rates of only 2.2% and 0.6%, respectively.
By industry, the impact of semiconductors was particularly pronounced. Among 17 industries, the wage increase rate in manufacturing rose from 4.8% in the first half of last year to 5.9% this year. The professional, scientific, and technical services sector also increased from 2.7% to 5.7%.
In the manufacturing sector, the electronics and telecommunications industry, which includes semiconductors, recorded the highest increase at 23.1%. The average monthly wage in this sector reached 9,434,000 won, a 23.1% increase from the same period last year. This is more than double the average of 4,187,000 won in other sectors. While special bonuses in the electronics and telecommunications sector surged by 66%, the increase rate for fixed salaries was only 1.4%. Workers in the electronics and telecommunications sector accounted for just 2.5% of all full-time employees, approximately 377,000 individuals.
When including research and development and professional services related to semiconductors, the impact is even greater. The average monthly wage in these sectors rose by 12.6% to 7,412,000 won, with special bonuses increasing by 49.8%. The wage increase in these sectors accounted for 53.9% of the total wage increase, while the increase in special bonuses represented 46.7%. These sectors also include non-semiconductor fields.
Ha Sang-woo, a director at the Korea Employers Federation, stated, "The improvement in semiconductor performance this year significantly influenced the increase in special bonuses in the electronics and telecommunications sector, contributing to overall wage growth."
* This article has been translated by AI.
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