Household income rises 4.5% in Q2 on higher wage, transfer income

In the second quarter of 2026, Korea's average household income increased by 4.5 percent compared to the previous year, according to data released by the Ministry of Data and Statistics. The average monthly household income reached 5.29 million won, or approximately $3,810, during the April-June period. This growth was primarily driven by increases in wage and transfer income.

The Ministry of Finance reported that inflation-adjusted household income rose by 1.5 percent in the same period. The average monthly wage income increased by 0.8 percent from the previous year, amounting to 3.21 million won. However, this growth was constrained by a smaller number of wage earners and a slowdown in wage increases. Average monthly business income amounted to 977,000 won, a 3.8 percent rise from a year earlier, fueled by stronger retail sales.

Transfer income, which includes government subsidies to households, saw a significant jump of 20.4 percent to 931,000 won. This was primarily due to cash subsidies aimed at alleviating the burden of high fuel prices. Property income also grew by 21.3 percent to a monthly average of 67,000 won. Monthly household spending increased by 3 percent to 3.99 million won, with consumption spending, representing household purchases of goods and services, rising by 3.4 percent to 2.9 million won.