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Household income rises for 8th consecutive quarter in Q2, but growth slows

Published: 28 Aug. 2025, 16:17

CHO YONG-JUN
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Seoul apartments are seen from Namsan Seoul Tower in central Seoul. [NEWS1]

Korea's average household income rose for the eighth straight quarter in the second quarter of this year, though the pace of growth has slowed compared to previous periods, government data showed Thursday.

The average monthly income of households came to 5.07 million won ($3,637) in the April-June period, up 2.1 percent from the same period of last year, according to data from Statistics Korea.

This marks a slowdown from the 4.5 percent on-year increase recorded in the first quarter of this year and the 3.8 percent growth in the fourth quarter of last year.

Income earned through wages went up 1.5 percent on year during the cited period to an average of 3.19 million won per month.

The monthly average income from business operations inched up 0.2 percent on year to 941,000 won, and transfer income backed by state support increased 5.1 percent on year to 773,000 won.

The agency said income earned through wages, along with a rise in transfer income, has contributed to the modest increase in household income.

The real household income, adjusted for inflation, climbed 1.9 percent in the first quarter on a yearly basis, slightly down from the 2.3 percent on-year growth in the previous quarter.

Monthly household spending edged up 0.8 percent on-year to 2.84 million won in the first quarter as people spent more on housing, food and health care, the agency said.