How much do EPS Factory Workers in Korea earn?
As life gets tougher, many people in are thinking about working abroad to find better opportunities, even if it means working as factory workers in Korea. But is it worth it, or are the costs and risks too much to bear? In this article, we'll explore the expected salaries for factory workers in Korea and whether the potential rewards outweigh the challenges.
Basic Salary:
• The minumum wage in Korea for 2023 is set at 9,620 won per hour
• Estimate Minimum (working hours and rates would vary per industry)
| Daily rate (8hrs) | Weekly (6 days) | Monthly (209 hrs) | Yearly | |
| KRW | 76,960 | 461,760 | 2,010,580 | 24,126,960 |
| USD |
56.70 |
340.20 |
1,481 | 17,772 |
| PHP | 3,224.56 | 19,344 | 84,230 | 1,010,760 |
*based on 11.01.2023 exchange rates
Additional Pay:
The regular factory works around 8-16 hours per day, 6-7 days a week. Overtime or night rates are 1.5 times the regular rate.
| Overtime Rate | Night Rate | Weekend Rate | |
| per hour KRW | 14,430 | 14,430 | 14,430 |
Deductables:
• Tax: 소득세, 지방소득세 10%
• Insurances: 국민연금 4.5%, 건강보험 3.545%, 고용보험 0.9%, 장기요야보험료
You can use this calculator to estimate the deductables and the net income
Example:
• Basic Salary: 2,010,580
• Food Allowance: 180,000
• Overtime (66 hrs): 952,380
• Night work (30 hrs): 432,900
Gross Pay: 3,575,860 won
• Deductables: 438,390 won
Net Income: 3,137,470won
Living Expenses:
• Rent: 0 ~ 500,000 per month
• Bills: 0 ~ 60,000 per month
• Food: 0 ~ 300,000 won per month
• Transportation: 0 ~ 30,000 won per month
• Extra Expenses: 100,000 won per month
• Phone Plan: 5,000 ~ 30,000 won per month
Companies may offer workers free accommodations and meals within the company to reduce the costs and expenses.
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